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No Return on Our Investment: The Failure of New York’s Industrial Development Agencies shows how our biggest job creation tool, Industrial Development Agencies (IDAs) are spending dramatically greater amounts of tax dollars each year while failing to create jobs, let alone quality jobs. The most recently available data shows IDAs wasting $135 million a year on companies that create no jobs or even cut jobs. It also demonstrates how IDAs are hiding from public scrutiny and subverting attempts at reform. By combining longitudinal data with concrete examples from IDA-subsidized projects and interviews with workers, residents, and small business owners, the report makes a compelling case for reform of the state’s IDAs.