Achieving meaningful economic development in New York means reforming New York’s 116 IDAs, which are the drivers of economic development in every part of the state. We need a better solution for economic development in New York. Statewide IDA reform– rooted in business standards, accountability measures, and transparency reforms—can lead the way.
- Wage Standards for construction & permanent jobs created by subsidized projects.
- Regional Hiring & Apprenticeship Requirements to ensure that development creates jobs and training opportunities for local workers.
- High Performance Building & Environmental Standards to prevent sprawl & encourage smart growth.
- Local Government Oversight of IDA project approvals.
- Subsidy Recapture Mechanisms, or “Clawbacks,” to provide a money-back guarantee against companies that default on their contract commitments.
- Designated IDA Board Representation to ensure a broad range of stakeholder interests is included in decision-making.
- Anti-Raiding Measures to prevent IDAs from engaging in unhealthy competition that results in job-shifting from region to region rather than real job creation.
- Community Impact Reports & Accessible Public Hearings that disclose the potential impacts of IDA developments and allow for meaningful dialogue on the impacts, costs and benefits by local stakeholders.
- Increased Monitoring and Improved Reporting by IDAs and their projects on activities, performance, and commitments.