Poverty Up and Income Down Again in New York City
New Corporate Tax Dodgers Hall of Shame Launches
The Getting Our Money’s Worth coalition announced the launch of a new website today that highlights the corporations that receive tax breaks but fail to create jobs, or create only poverty-wage jobs in return. The website launch featured a handful of corporations—from big banks like Bank of America Merrill Lynch to luxury apartment developers like Carl Paladino and A.G. Spanos—who have gamed New York’s economic development system.
Advocates Raise Questions About Hudson Yards Subsidy Deal
The New York City Industrial Development Agency (NYCIDA) hearing heated up this morning, as advocates testified against granting huge public subsidies to the Related Companies to develop the Eastern Rail Yards, as known as Hudson Yards, on Manhattan’s West Side.
New Data Reveals Development Agency Failure
The Getting Our Money’s Worth Coalition released a new analysis of Industrial Development Agency (IDA) data today, which shows widespread failure of New York’s main economic development tool to meet job creation goals. Highlights of the analysis include...