Economic development policies
January 8, 2001. Testimony delivered at the Public Hearing of the Empire State Development Corporation on the New York Stock Exchange Project Held Pursuant to the Eminent Domain Procedure Law, Alexander Hamilton United States Customs House.
James A. Parrott, Deputy Director and Chief Economist, Fiscal Policy Institute, testified:
My name is James Parrott and I am the Deputy Director and Chief Economist of the Fiscal Policy Institute (FPI). FPI was established in 1991 and is a nonpartisan, non-profit research and … (read more)
August 2, 2000. A presentation by Frank J. Mauro, Executive Director, Fiscal Policy Institute, at the Syracuse University Continuing Education Program’s Summer Lecture Series, “The Role of Financial Incentives in State and Local Economic Development.”
Throughout our nation’s history, state and local governments have done much to facilitate the growth and development of the American economy. They built an impressive physical infrastructure and developed the nation’s human capital without which our private sector economy could not have prospered. In fact, … (read more)
July 25, 2000. Testimony by James A. Parrott before the City Council of the City of New York Labor Committee Hearing.
My name is James Parrott. Thank you for this opportunity to testify on the question of wages and working conditions in companies that receive economic development subsidies from the City. I am the Deputy Director and Chief Economist of the Fiscal Policy Institute (FPI). FPI is a non-partisan, non-profit public policy research organization that deals with New York City … (read more)
June 27, 2000. A letter to the editor of the New York Times, by James Parrott:
Re ”Jobs Data for 1999 Paint a Rosier Picture for Upstate New York” (news article, March 2):
It may be a little premature for Gov. George E. Pataki to herald the turnaround of the upstate economy. At least 40 percent of the private job gain last year occurred in industries like retail and social services, where the average wages are 40 percent below the … (read more)
June 15, 2000. A call for accountability from Buffalo News columnist Rod Watson.
OK, let’s make a deal. You give me mucho, mucho bucks and I’ll give you . . . what? A promise? Sound good? Do you know of any business that does business like that?
No, only government does business like that. So welcome to the Adelphia Communications waterfront project.
New York State already has tossed $75 million of public money into the pot, $50 million of it … (read more)
March 6, 2000. William Tuthill reports in the Capital District Business Review:
New York state’s array of economic development programs, in which millions of dollars are annually loaned or given to spur businesses and create jobs, lack adequate means of measuring their own effectiveness, according to a report by State Comptroller H. Carl McCall.
There are not enough tools in place to show whether funded projects have resulted in the increase or retention of jobs, the report said. … (read more)
January 7, 2000. This audit (Report 98-S-7) by the Office of the State Comptroller concluded that the ESDC does a poor job of tracking employment at companies that receive state subsidies, and that many companies have fallen short of the promises for creating or retaining jobs on which their subsidies were based.… (read more)