New York state’s annual billion-dollar allocation to ignite economic development is under scrutiny by a coalition that includes public policy experts, government watchdogs and labor unions.
ALIGN — The Alliance for a Greater New York — released a report Wednesday questioning what it refers to as the state’s “$7 billion gamble” on various programs without knowing whether there is a return on that funding. Performance, accountability, and transparency areas of concern, the group said of the state programs that dole out numerous tax breaks and incentive packages to companies.
“Our findings show that New York’s current spending on economic development is more of a gamble than an investment,” ALIGN said in a statement Wednesday, ahead of a formal announcement set for noon in Albany.
Read the full article at Buffalo Business First.