Economic development policies

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

Groups Urge Lawmakers to Make Industrial Development Agencies More Accountable, More Transparent and Less Corrupt

June 15, 2005. Group press release, plus eight simple ways to reform IDAs:

Industrial Development Agencies Law Due to Sunset on June 30, 2005

Groups Call Upon Legislature and Governor to Make Real Changes That Will Make The Program More Accountable, More Transparent and Less Corrupt

Over 100 community, religious, education, health care, labor and human services organizations from throughout New York State have endorsed a joint statement of principles to reform the state’s Industrial Development Agency laws. The joint … (read more)

Companies Certified Prior to the June 2004 Sunset of a Little Known and Badly Misused Tax Break Are Back in the Money

April 1, 2005. Good Jobs New York has uncovered an unpublicized rider to Empire Zones “reform” legislation that allows firms certified for Zone Equivalent Area (ZEA) Wage Tax Credits prior to June 2004 to receive up to five years of benefits – despite the program’s expiration. GJNY released a list of benefit recipients that include Giuliani Partners, Ernst & Young, Fox News and News America. The press release:

Contact: Stephanie Greenwood, Good Jobs New York, 212-414-9394 Bettina Damiani, Good Jobs … (read more)

Fiscal Stability for New York City

March 23, 2005. Testimony presented by FPI’s Deputy Director and Chief Economist James Parrott to the New York City Charter Revision Commission. This testimony deals with the Charter Commission’s interest in determining if any of the expiring provisions of the New York State Financial Emergency Act for the City of New York should be incorporated into the New York City Charter.… (read more)

11 Point Plan to Reform the Zones

March 22, 2005. FPI joins with environmental, human services and other budget watchdog groups in releasing a plan to reform the State’s Empire Zones Program.

Reform Groups Urge State to “FIX THE ZONES” or Let the Program Sunset on March 31 as Scheduled

Environmental, human services and budget watchdog groups joined together today to call upon state leaders to fix the state’s Empire Zones Program and released an 11-point plan designed to end the abuse, corruption and favoritism inherent in … (read more)

Expenditure of Payments in Lieu of Taxes (PILOTs) in New York City

March 22, 2005. Testimony by FPI Deputy Director and Chief Economist James Parrott at a hearing of the City Council. This testimony deals with the discovery of the fact that Mayor Bloomberg and several of his predecessors have been spending some PILOT payment revenues without appropriations by the City Council. Related: Mayor Bloomberg’s veto message explaining his June 9, 2005, veto City Council legislation requiring greater accountability in the expenditure of PILOT revenues. Testimony >>(read more)

Testimony presented at the New York State Legislature’s Joint Budget Hearing on Economic Development and Taxes

February 16, 2005. Frank J. Mauro, Executive Director, Fiscal Policy Institute, presented testimony to the New York State Legislature’s Joint Budget Hearing on Economic Development and Taxes before the Assembly Ways and Means and Senate Finance Committees.

I greatly appreciate being invited to appear to you today on the subjects of economic development and taxes.

SPUR. As part of his 2005-06 Executive Budget proposal, Governor Pataki has proposed a new program that he refers to variously as SPUR and Operation … (read more)

West Side pyramid scheme

January 19, 2005. An op ed in the New York Daily News by James Parrott, FPI Chief Economist, on the financing of far West Side development. Read >>(read more)

Testimony on Industrial Development Agencies

January 18, 2005. Testimony by Frank J. Mauro, Executive Director, Fiscal Policy Institute, to the NYS Assembly Standing Committee on Local Governments, Public Hearing on Industrial Development Agencies.

Good Morning. We greatly appreciate being invited to appear before your committee to discuss the role and operations of Industrial Development Agencies in New York State.

The Fiscal Policy Institute (FPI) has been interested in this subject since its inception in early 1991. In October of the following year (1992), FPI published … (read more)

Proposed Financing for the New York Sports and Convention Center

January 18, 2005. Testimony submitted to the Empire State Development Corporation. Testimony >>(read more)

Proposed Financing for the Hudson Yards Project East of 11th Avenue

December 15, 2004. Testimony before the NYC Council Committee on Finance. Testimony >>(read more)