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Andrew Cuomo
New York to form first U.S. state Ex-Im bank: Cuomo

NEW YORK (Reuters) - New York plans to form the first U.S. state version of the federal Export-Import Bank to help businesses expand overseas, Governor Andrew Cuomo said on Tuesday, in a vote of confidence in a credit agency that critics have decried as corporate welfare. "We're going to capitalize it with $35 million to start," Cuomo said at a trade summit in New York, according to a recorded version of his speech. "We will have a real vehicle that can facilitate companies that want to make exactly this transaction." The development fund would help small and medium-sized companies increase exports, his office said in a statement, without providing a time...