Getting Our Money's Worth

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Testimony to the NYCIDA about Related Companies and Hudson Yards

Nathalie Alegre joined advocates at a New York City Industrial Development Agency (NYCIDA) hearing to testify against granting huge public subsidies to the Related Companies to develop Hudson Yards.  The testimony questions the track record of the Related Companies in honoring its agreements, as well as the NYCIDA’s track record in crafting successful agreements and holding companies accountable to their jobs and other community benefits promises.

Partner Resource: Money-Back Guarantees for Taxpayers

This report by Good Jobs First, a non-profit, non-partisan research center based in Washington, DC, analyzes the performance standards and enforcement policies of the states’ major economic development programs. The study shows that most states are highly inconsistent in how they monitor, verify and enforce the terms of job subsidies that cost taxpayers billions of dollars per year. New York State had one of the poorest track records, receiving a score of D+ and ranking 45th out of the 50 states plus the District of Columbia.