Stats for 2009 show little return for state IDA tax breaks Sunday, November 13, 2011 By David Lombardo (Contact) Gazette Reporter
CAPITOL — Taxpayer dollars are getting wasted on the state’s Industrial Development Agencies, say economic justice advocates. Based on statistics released by the state Comptroller’s Office for the year 2009, the Alliance for a Greater New York and the Buffalo-based Coalition for Economic Justice put out a report detailing what they characterized as useless tax incentives by IDAs. IDAs are local economic development agencies that are able to provide incentives to companies that promise expansion or job creation. The report noted that half of the projects that ended in 2009 didn’t actually create a single job and that $141 million of the state’s IDA tax breaks went to companies that cut jobs or didn’t create new jobs. The Capital Region, including Saratoga, Schenectady and Albany Counties, spent $64.7 million in net tax exemptions. Of the projects that concluded in 2009, 54 percent of them didn’t end up creating jobs and in some cases jobs were lost. Additionally, of the 48 subsidized projects that ended in 2009, only 11 met or exceeded the job creation or retention promises that were made when the firms received their breaks. The 25 projects in the Capital Region that didn’t reach their initial job creation or retention promises ended up falling 5,400 jobs short of the mark. The fourth-most expensive project in 2009 in the district was for GlobalFoundries, which received $3,307,519 in net exemptions for its Fab 8 facility in Malta. This money, in conjunction with millions in state subsidies, netted 28 jobs, according to the report. Allison Duwe, Executive Director of the Coalition for Economic Justice, noted that the trends in the Capital Region have persisted around the state with the IDA system. “IDAs were not performing well before the economic crisis, and the latest data reinforces that IDAs are not equipped to respond to New York’s jobs crisis, despite giving away considerable public dollars in corporate subsidies,” said Duwe...............................>>>>.............................>>>>........................http://www.dailygazette.com/news/2011/nov/13/1114ida-tax-breaks/
"New York's Capital Region is saturated with 23 Industrial Development Agencies, which too often compete with one another to lure businesses from town to town."
"Fifteen businesses lost nearly 1,900 jobs during the course of their IDA subsidies"
"The 25 projects that failed to meet their job creation or retention promises were 5,400 jobs below their promise. They promised to create or retain 5,700 jobs and ended with only 300 employees."
"Five Most Expensive Projects of 2009
Athens Genrating Co, Athens Besicorp-Empire Power, Rensselaer Chapel Hotel Associates, Albany Global Foundaries, Malta GE Health Care, Rensselaer "
They should check out the Empire Zone recipients also.
Neither the IDA's nor the Empire Zone recipients have met their mark.
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
Public Authority one of the most important characteristics of a state. The Marxist-Leninist theory of the state considers public authority to be a specific variation of social compulsory authority, one that arose after society split into antagonistic classes. Public authority supplanted social authority, which was characteristic of the primitive clan-tribal system and served the interests of the entire society, whether it was a clan, tribe, or alliance of tribes.
Public authority is the political authority of the ruling class regardless of the particular state forms in which authority is organized and exercised. The chief functions of public authority are to subordinate—which includes suppressing the opposition of other classes—and to organize and control society according to the economic, political, and nonmaterial interests of this class. In class antagonistic society, public authority is in essence the dictatorship of the ruling class, a means of exploitation of the working people. The apparatus of public authority consists of armed forces, intelligence, governmental agencies, the diplomatic service, and the like. In exploiter states, public authority is alienated from society in political and organizational terms and is maintained at the expense of the working people. Taxes and loans are the material foundation and the hallmark of public authority.
In a socialist state, public authority serves the interests of the people, expresses the people’s will, and is linked to the people by numerous democratic forms that are refined as socialism develops.
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
That place on State Street near Brandywine that made circuit boards or something like that, was it called Con-tec? Anyway, they actually employed those who would otherwise be on public assistance, they let them go without a whimper. If you are going to give away money, give it to places that employ people we end up giving money to anyhow. Has anyone noticed that the downtown hotels appear to employ only recent immigrants for their unskilled labor? Jobs "created" that don't do a thing to alleviate that giant slum just behind the facades on State Street.
Robbing the financially struggling homeowners by increasing their taxes to give exemptions to the rich does NOT work. Proof positive is that downtown Schenectady has done NOTHING AT ALL for the neighborhoods where people live. Shootings, murders of innocent children playing on playgrounds, fires started in the school, grenades in the school, infrastructure crumbling---then they choose to pave streets a cheap way to put off the expense to the future so they can exempt millionaires from paying taxes, property values plummeting, houses sit for sale for months, sometimes years, highest taxes around, city leaders who live outside the city to avoid paying the taxes, elected officials who allow it, and one little socialist cheers, looking for the taxpayers to provide for his entertainment, interesting he can't even get a job as a popcorn maker in his socialist theater, nor a dishwasher at his government gin mill
Optimists close their eyes and pretend problems are non existent. Better to have open eyes, see the truths, acknowledge the negatives, and speak up for the people rather than the politicos and their rich cronies.
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