Economic development policies

Also see the work of Good Jobs New York, a joint project of the Fiscal Policy Institute and Good Jobs First.

Building New York’s Future: Creating Jobs and Business Opportunities Through Mass Transit Investments

September 27, 2011. This white paper finds that as New York comes out of the most severe economic downturn since the Great Depression, the state can and should pursue a mass transit-related manufacturing strategy, positioning itself as a leader in sustainable transportation while creating good, middle class jobs for New Yorkers. Working toward broad political commitment and securing adequate funding for New York’s transit authorities’ capital and operating budgets, and for national mass transit infrastructure, are necessary complements.… (read more)

New Analysis of Subsidized Projects Finds Low Wages Common: City subsidies exceed $2 billion annually

March 8, 2011. A report from FPI, Good Jobs New York and the National Employment Law Project examines the low wages typically paid for many of the permanent jobs at city-subsidized economic development projects such as Bronx Gateway Mall, Fresh Direct and Yankee Stadium. An update of analysis originally conducted last May, the study finds that significant numbers of low-wage jobs are being created with New York City tax dollars, jobs for which starting pay is as low as the … (read more)

The Growing Budget Burden of New York’s Business Tax Expenditures

December 7, 2010. Over $8 billion a year goes to “back door” spending in the name of job creation. This new report from FPI identifies $5.4 billion a year in state government “back door” spending in the name of economic development and job creation. An additional $2.8 billion a year is being drained from New York’s local government budgets because of a variety of tax expenditures in state law. In these tough budget times, these billions of dollars in business … (read more)

Background on the Economists Selected by the New York City Economic Development Corporation for Its Living Wage Study

October 27, 2010. City policymakers deserve the benefit of a rigorous study that looks at the actual costs and benefits of extending living wage standards to subsidized development projects. This brief looks at the track record of the lead economist, David Neumark, for the management consulting firm selected by the New York City Economic Development Corporation to conduct a study of the possible economic impact of wage requirements on projects subsidized by the City. The brief examines the extensive criticism … (read more)

An Overview of Job Quality and Discretionary Economic Development Subsidies in New York City

May 28, 2010. This brief from FPI together with Good Jobs New York and the National Employment Law Project examines the low wages typically paid for many of the permanent jobs at city-subsidized economic development projects such as Bronx Gateway Mall, Fresh Direct and Yankee Stadium.… (read more)

Prevailing Wage for Building Service Workers in Buildings Owned or Managed by Persons Receiving City Financial Assistance

May 11, 2010. Testimony presented by James Parrott before the New York City Council Committee on Finance.… (read more)

Oversight: The feasibility of requiring a unified economic development budget as a reporting requirement

April 27, 2010. Testimony presented by James Parrott before the New York City Council Committee on Economic Development.… (read more)

Testimony at the Joint Legislative Public Hearing on the 2010-2011 Executive Budget Proposal – Economic Development

February 1, 2010. Testimony presented by James Parrott, FPI’s Deputy Director and Chief Economist.… (read more)

An Innovator Takes a Fairly Conventional Approach

October 26, 2009. An article by James Parrott, FPI’s deputy director and chief economist, who writes regularly for Gotham Gazette’s Economy section. Article (read more)

Retail Wages in New York City

June 24, 2009. Testimony before the Bronx Community Board 7’s public hearing on the Kingsbridge Armory Project, presented by research associate Michele Mattingly. As New York City leaves behind an economic era characterized by a financial sector distorted by reckless speculation, it is imperative that we rebuild the city economy on the basis of good, family-supporting jobs that create and sustain the middle-class.… (read more)