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Seizing the Moment: How Regional Economic Development Councils Can Build a Good Jobs Economy

Seizing the Moment: How Regional Economic Development Councils Can Build a Good Jobs Economy examines the current proposal to create Regional Economic Development Councils to serve as New York's flagship jobs program. The report argues that Regional Councils must transform the state’s economic development programs from wasteful corporate giveaways into coordinated and outcome-oriented job creation programs that deliver good jobs and broad community benefits.

What are Regional Economic Development Councils?

What are Regional Economic Development Councils?

Governor Cuomo is proposing to create 10 Regional Economic Development Councils that award grants and subsidies on a competitive basis to spur private-sector investment and job creation. Despite being the flagship economic development initiative of his campaign, the Governor has consistently delayed release of any substantive details on the structure, power and scope of these new entities. They are to be created through executive order with appointments to the councils likely happening at the end of June 2011. Information on the councils can be gleaned from the state budget, Cuomo’s campaign pledges, government officials and newspaper articles.

No Return on Our Investment

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.

Case Study: Canandaigua Air Center

Ontario County IDA, Finger Lakes For years, the Ontario County IDA ignored payment-in-lieu-of-taxes (PILOT) agreements at the Canandaigua Air Center. Although the IDA began operating the airport and took it off the tax rolls in 1995, the private buildings on the property were supposed to be paying PILOTs to offset the tax revenue lost to school districts and municipalities.…

Case Study: Beech-Nut

Montgomery County IDA, Capital District Beech-Nut, the baby food company, received $104.5 million in tax exemptions in 2008 from state and local tax subsidy programs, including the Montgomery County IDA.…