business

Hernandez will pursue the creation of a $10 billion Empire Opportunity Fund to identify competitive investment opportunities connected to New York businesses, industries, infrastructure, and economic growth, while maintaining the Comptroller’s fiduciary responsibility to retirees.

Micron’s historic $100 billion investment in Central New York is an opportunity to build an entire ecosystem of New York businesses around it. Through my Empire Opportunity Fund, we can invest in local suppliers and growing companies, create thousands of jobs, and deliver strong returns for our pensioners. Let’s invest in New York and make sure the next generation can build their future right here at home.

Invest in New York by strengthening pension performance, cutting excessive Wall Street fees, and pursuing disciplined, market-driven investments that can create jobs and economic growth across the state.

New York’s tax policies and hostile political climate are driving businesses and talent out of our state. When leaders in New York City and Albany vilify success, tax job creators, and push anti-business policies, it hurts every working family trying to make ends meet. We are the Empire State. It’s time to restore economic common sense, support our businesses, and make New York affordable again.

When strong opportunities exist in New York, New York capital should have the opportunity to invest in them—from advanced manufacturing and technology to energy, life sciences, logistics, and other industries capable of creating jobs and long-term economic growth.

Mamdani’s grocery plan would use taxpayer dollars to undercut the very bodegas and small grocers that keep New York neighborhoods running. His solution to high prices is not competition or lower costs. It is permanent government subsidies, millions in losses, and fewer independent businesses.

It was great visiting Ralph at Rodman Lott & Sons Farms in Seneca Falls. Family farms like this are the backbone of New York, but Albany keeps making it harder for them to succeed with more regulations and more red tape. As your Comptroller, I’ll fight for greater accountability, less government overreach, and the freedom for New York’s farmers to do what they do best: feed our families and strengthen our economy.

Global venture capital reached a record $330.9 billion in Q1 2026, with AI, semiconductors, defense, quantum, and advanced manufacturing attracting the largest investments. Those are the same sectors targeted by my proposed $10 billion Empire Opportunity Fund. New York is already built for this. Syracuse (Micron, semiconductors), Albany (NY CREATES, nanotechnology), Rome (cybersecurity, defense), Binghamton (electronics, photonics), Buffalo (advanced manufacturing, nuclear), Rochester (optics, imaging), Utica/Marcy (semiconductor materials), Ithaca (Cornell, climate tech), the Hudson Valley (AI, robotics), Long Island (quantum, defense electronics), and New York City (AI, finance, life sciences, venture capital) already support more than 500,000 jobs. This is not a new government spending program, and it would not raise taxes by a single dollar. The Empire Opportunity Fund would prudently invest a small portion of New York’s existing nearly $295 billion pension fund into high-quality, long-term opportunities that can generate strong returns while encouraging innovative companies to expand and invest in New York. Leading institutional investors, including CalPERS, the Canada Pension Plan Investment Board, and Temasek Holdings, have shown that disciplined, long-term investments in innovation can deliver competitive returns. New York should put more of our pension capital to work creating value here at home instead of relying so heavily on expensive outside Wall Street managers. We can improve returns for retirees, attract more businesses, create high-paying jobs, strengthen our tax base, and grow New York’s economy, all without increasing taxes. Invest in New York. Build the future in New York.

Over the last 12 months, venture capital invested nearly $800 billion worldwide, supporting an estimated 3 to 4.5 million jobs. That money is building the future in three sectors: - Artificial intelligence: ~$490B this year, 64–80% of every venture dollar - Advanced hardware & robotics: $47.4B in the first half, nearly 4x the prior six months - Healthcare & biotech: $21.3B in the first half, with biotech IPOs already beating every full year since 2021 New York needs to be in this game, for three reasons: 1. Our pensioners deserve the best returns. U.S. venture capital posted a 17.1% one-year return, the highest of any private capital strategy. Our pension fund should be capturing that growth, with a focus on real cash returns for retirees. 2. These are the jobs of the future. With private partners matching our investment, the $10 billion Empire Opportunity Fund can create tens of thousands of high-tech jobs and more than 100,000 New York jobs in total. 3. Our kids shouldn't have to leave to build a career. Every company that grows here instead of somewhere else adds to the tax base that pays for our schools, roads and services. The question isn't whether this money gets invested. It's whether it gets invested in New York. Let's invest in New York's future and make sure it pays.

My analysis found @ZohranKMamdani’s government-run grocery experiment could carry a $206 MILLION cost and economic impact in just its first few years. $70 million to build five stores. An estimated $106 million to operate them for three years. Roughly 450 bodegas and neighborhood grocers could be hurt by subsidized competition, with as many as 67 potentially closing. And this isn’t just New York City’s problem. Albany is sending billions in state taxpayer dollars to City Hall. Taxpayers from Buffalo to Long Island should not be forced to bankroll Mamdani’s socialist experiment. This is exactly what the Comptroller should be doing: run the numbers before the money is gone, follow every dollar and hold government accountable. As Comptroller, I’ll be the watchdog standing between New York taxpayers and Mamdani’s socialist experiment. No blank checks. No excuses.

Apollo Global Management, a $900B asset manager, is weighing a second U.S. headquarters in Florida or Texas. Citadel and Elliott’s combined $120B already left. Is Apollo next? It’s not because of the weather. It’s because of socialist policies. @ZohranKMamdani is pushing higher corporate and personal taxes and even threatening property tax hikes. @KathyHochul is allowing it. So one of the most powerful firms in the world is preparing to shift jobs, talent, and investment out of New York. This is how you dismantle an economy: attack employers, punish success, create uncertainty, then act shocked when they leave. Florida and Texas are competing for growth. New York is driving it away. New York doesn’t need excuses. It needs a complete management change.

Do you want companies using your personal data to make you pay more than your friend for the same groceries, flights, or concert tickets?   I know I don't. We can stop this by passing the One Fair Price Package to ban surveillance pricing in New York. https://www.timesunion.com/opinion/article/personal-data-shouldn-t-used-raise-grocery-prices-22278837.php

New York! Stores in our state are now required to allow you to pay in cash. If you see a store violating the law, contact my office:  1-800-771-7755 https://cbs6albany.com/news/local/ag-issues-consumer-alert-new-york-stores-must-allow-cash-payments

Right as New York City is requiring @Instacart and other delivery companies to pay its drivers fair wages, the company is hitting New Yorkers with a fee they don’t even see until checkout. My office is looking into this. https://gothamist.com/news/instacart-hits-new-yorkers-with-regulatory-fee-because-of-minimum-wage-for-workers