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Links Roundup: NYS LDCs

November 17, 2014

Long Beach Local Development Corporation reschedules meeting

Newsday

The Long Beach Local Development Corporation has rescheduled its … for Long Beach and received matching funds from New York State agencies.

Gateway Local Development Corporation OK’s $3.1M budget

The Daily News Online

Two major sources of income include the balance of a $1 million grant from the New York State Division of Housing and Community Renewal for the …

Wary Optimism Greets De Blasio’s Brooklyn Redevelopment Plans

Brooklyn Bureau

The city’s nascent plan for Broadway Junction and East New York is one of two … of the Cypress Hills Local Development Corporation, which has taken the lead … South of Atlantic Avenue, East New York proper is more of a home to …

Empty ‘New Lots’ to become arts & business incubators

Brooklyn Daily Eagle

Local resident James Malone is excited about the initiative in East New York … Empty lots in East New York will be repurposed later this year to provide … up by Bill Wilkins of the Local Development Corporation,” said James Malone, …

Orange County Executive Steven Neuhaus

Hudson Valley Press

… Valley View Center for Nursing Care and Rehabilitation to a Local Development Corporation (LDC) effective May 1, 2015. The 2015 Executive Recommended Budget would stay within New York State’s tax cap law of 1.56 percent

With Funding Approved, 3 WTC Will Rise Again

Commercial Observer

The New York Liberty Development Corporation, a local development corporation formed by New York Job Development Authority, has approved over …

County proposes new LDC to sell Valley View

The Photo News

… officials proposed forming a new Local Development Corporation (LDC) to sell the county-owned facility to a private buyer. … health services administrator for the New York State Office of Mental Health, insists that with managed …

Saratoga County Prosperity Partnership Search Committee Retains Search Firm

PR.com (press release)

The Saratoga County Prosperity Partnership (SCPP) is a not-for-profit local development corporation created under the New York State Not-For-Profit …

Links Roundup: NYS IDAs

November 17, 2014

Mayor Bramson Discusses New Rochelle’s Downtown

Talk of the Sound

Another member said he had an important question: would the city insist a developer could not go to the IDA (Industrial Development Agency) to lower …

SUNY Fredonia tech incubator gets $300000 Oishei grant

Buffalo News

… member of the Western New York Innovation Hot Spot consortium. The incubator also hosts the Chautauqua County Industrial Development Agency …

Attorney: Kingston cannot have ‘involved agency’ status in water bottling company’s environmental

The Daily Freeman

All but three of the involved agencies — the U.S. Army Corps of Engineers, the Ulster County Industrial Development Agency and the New York City …

Company with 200 job openings seeks tax exemption for Syracuse expansion

The Post-Standard – syracuse.com

It has applied to the Syracuse Industrial Development Agency for an … employs 30,000 people throughout the world, including 3,500 in New York.

‘Next Great Idea’ Competition Down to Final Four

Oswego County Business Magazine

… partnership with local banks, the Oswego County Industrial Development Agency, the cities of Oswego and Fulton community development offices, the U.S. Small Business Administration, New York Business Development Corp., …

Stephen Putman, District 9

WatertownDailyTimes.com

When the St. Lawrence County Industrial Development Agency recruits … We need to join with other rural upstate partners to pressure New York State …

New York disbands 36 urban renewal agencies and IDAs

Westfair Online

Among the disbanded agencies are the Tarrytown Urban Renewal Agency, the Town of Ossining Industrial Development Agency and the Town of …

New York abolishes 36 inactive government agencies – Newsday

Happy Halloween: Cuomo ends 36 ‘ghost’ authorities – Poughkeepsie Journal

New Legislation to Eliminate 2 Local Agencies – FOX 40 News WICZ TV

Full Coverage

The venture adventure Startups seeking more capital in region to advance their dreams

Buffalo News

Groups like the Western New York Venture Association and the Buffalo Angels … The Erie County Industrial Development Agency is jumping back in.

Despite issues, developers bullish on Buffalo

Buffalo Business First

Incentives, particularly New York state and federal tax credits for historic … The Erie County Industrial Development Agency, as well others like the …

Nassau incubator proposed to foster homeland security companies

Newsday

The county’s Industrial Development Agency hopes to work with the New York Institute of Technology, which has a campus in nearby Old Westbury, …

Reginelli expected to be next CEO of Albany IDA

Albany Business Review

Sarah Reginelli is expected to be appointed the new chief executive officer of the city of Albany Industrial Development Agency in Albany, New York.

Two manufacturers awarded tax breaks for Saratoga Springs expansions

Albany Business Review

The industrial development agency approved tax incentive packages for the two … peroxide purification plant in Saratoga Springs, New York.

Partnerships with ASU bring startup acceleration program to New York

Arizona State University

New York Furnace, which is one of a broader network of startup … and Mohawk Valley EDGE/Oneida County Industrial Development Agency; and …

Huck Finn’s and Hoffman’s Playland planning big announcement

Albany Business Review

… in the Albany, New York warehouse district. Gary W. Domalewicz, chairman of the Albany County Industrial Development Agency, said the business …

New housing plans near medical campus seek approval

Buffalo News

… as well as other incentives from Erie County Industrial Development agency, National Grid USA, National Fuel Gas Co. and the New York State …

Fitch Affirms NYC Industrial Development Agency Revs (Terminal One Group Association. LP) at ‘A-’

Business Wire (press release)

NEW YORK–(BUSINESS WIRE)–Fitch Ratings affirms the ‘A-’ rating on $258.56 million New York City Industrial Development Agency’s special facility …

Groundbreaking held for $19 million incubator

Binghamton Homepage

And then $2 million each from the Broome County Industrial Development Agency, the SUNY Research Foundation … It’s expected that the 5 current Start-Up New York companies that currently reside in the university’s Innovative …

Council to Assess ‘Bang for the Buck’ Efficacy of EDC Investment

Gotham Gazette

On Thursday afternoon, the New York City Council Committee on Economic Development will meet to discuss the … The EDC and Industrial Development Agency (IDA) are already subject to significant oversight and disclosure …

Fitch Rates Inst of International Ed (New York) Series 2014 Rfdg Revs ‘AA-’; Outlook Stable

Rock Hill Herald (press release)

Fitch also affirms the series 2001 New York City Industrial Development Agency civic facility revenue bonds (Institute of International Education …

Links Roundup: Public Authorities

June 12, 2014

Oilers now have a field to call home

Olean Times Herald

… its third season in the New York Collegiate Baseball League on Monday. Led by Brian O’Connell and the Olean

ManaFoods reaffirms interest in new Warwick Tech Park for ag-university education

Mid-Hudson News

WARWICK – ManaFoods of New York, formerly called Valley Fresh Direct, has reaffirmed its interest in locating at the … The Warwick Valley Local Development Corporation has been charged with developing the property, which is …

Suit filed to block Valley View transfer (VIDEO)

Times Herald-Record

Local development corporations have been upheld again and again by courts across New York state. We look … Ulster County used a local development corporation as a vehicle to transfer its nursing home to a private firm. The new …

Links Roundup: LDCs

June 12, 2014

Oilers now have a field to call home

Olean Times Herald

… its third season in the New York Collegiate Baseball League on Monday. Led by Brian O’Connell and the Olean

ManaFoods reaffirms interest in new Warwick Tech Park for ag-university education

Mid-Hudson News

WARWICK – ManaFoods of New York, formerly called Valley Fresh Direct, has reaffirmed its interest in locating at the … The Warwick Valley Local Development Corporation has been charged with developing the property, which is …

Suit filed to block Valley View transfer (VIDEO)

Times Herald-Record

Local development corporations have been upheld again and again by courts across New York state. We look … Ulster County used a local development corporation as a vehicle to transfer its nursing home to a private firm. The new …

Links Roundup: IDAs

June 12, 2014

Prop factory that has made replica weapons for ‘Boardwalk Empire’ heading to Queens

New York Daily News

It’s the latest example of the migration of New York City’s industrial … it secured through the city’s Industrial Development Agency, money that will help …

The Ontario Knife Company(R) Breaks Ground On New Manufacturing Plant Expansion

Wall Street Journal

… for the new expansion to its Franklinville, New York manufacturing facility. … through the County of Cattaraugus Industrial Development Agency

New York Approves CON for $5.2M Westmoreland ASC, Controversy Remains

Becker’s ASC Review

The New York State Department of Health approved the certificate of need … Now, the Oneida County Industrial Development Agency is hearing …

Cattaraugus County IDA notes skewed data in comptroller’s report

Olean Times Herald

ELLICOTTVILLE — Cattaraugus County Industrial Development Agency officials are rushing to correct data in an Office of the New York State …

Tightening regulations would force IDAs to become more accountable

Buffalo News

Industrial development agencies across Western New York are still in need of … The Lancaster Industrial Development Agency justifies that tax break …

Albany nanocollege seeks $186 million in tax-exempt bonds for latest expansion

Albany Business Review

… New York has applied for $186 million tax-exempt bonds through the Albany County Industrial Development Agency to finance a new $200 million …

New York State IDAs scrutinized in comptroller’s annual report

Business First of Buffalo

Western New York topped all regions across the state with 837 industrial development agency-supported projects in 2012, adding up to $9.1 billion.

Smithtown, Kings Park put on IDA’s downtown development radar

Newsday

… service funded by the Suffolk County Industrial Development Agency. … organization that works in the New York, New Jersey and Connecticut area.

Bellone Praises Agency for Work Boosting New Business

Long Island Exchange

(Huntington, NY) Suffolk County Executive Steve Bellone praised the success of the Suffolk County Industrial Development Agency (IDA) for bringing …

New Paltz Town Board seeks Ulster County documents on tax deal for Park Point project

Kingston Daily Freeman

The Ulster County Industrial Development Agency last week approved a … “They have to, under their own regulations in New York state … do an …

Fidelis adding 75 new IT positions

WIVB

… $2.5 million in tax breaks by the Amherst Industrial Development Agency for expansion that would nearly double their office in Western New York.

NCCC, IDA plan joint application for Start-Up New York

Buffalo News

… that he expects a joint application from the college and the Niagara County Industrial Development Agency for the Start-Up New York program.

Sen. DeFrancisco wants to bar county agency from giving tax break to Destiny USA hotel

The Post-Standard

Syracuse, N.Y. — Onondaga County’s Industrial Development Agency … “We’d be the only county in New York State to have that requirement,” he said.

Ulster County agency to vote on payment-in-lieu-of-taxes plan for New Paltz project

Kingston Daily Freeman

KINGSTON >> The Ulster County Industrial Development Agency is … that will house students and faculty with the State University of New York at New …

Court denies General Motors appeal

Lockport Union-Sun & Journal

Lockport Union-Sun & Journal — New York’s highest court is backing the Lockport Town Industrial Development Agency in its taking of 91 acres from …

 

Links Roundup: New Jersey

June 12, 2014

New Jersey’s Surge in Business Tax Subsidies Reaches New Heights

http://www.njpp.org/reports/new-jerseys-surge-in-business-tax-subsidies-reaches-new-heights

New Jersey has awarded more than $4 billion in tax subsidies and credits to businesses this decade in a largely unsuccessful attempt to spur economic activity and boost the state’s crawl out of the Great Recession. As the total amount of subsidies has boomed, so has the cost of deals with individual companies, with a sharp increase in those worth more than $100 million.

Links Roundup: LDCs

May 2, 2014

The Authorities Budget Office (ABO) has completed its limited scope review of the Griffiss Local Development Corporation (GLDC).  The report concludes that although GLDC has produced positive results with the successful redevelopment and reuse of the former Griffiss Air Force base, it has allowed a not-for-profit corporation, Mohawk Valley Economic Development Growth Enterprise (EDGE), to use GLDC funds, credit and employees for activities that are not related to GLDC’s core public mission, such as paying the expenses of corporations unrelated to GLDC, providing services to organizations located outside the Base, and for activities that are inconsistent with Not-for-Profit Corporation Law.  

This report is one in a series of reviews of local development corporations (LDCs) undertaken by the ABO to better understand the public purposes for which each LDC was formed, and to gain insight into how these corporations function and expend public funds. These reviews are also intended to increase public awareness of the operations of LDCs.  

The GLDC report is posted and available to the public on the ABO web site at www.abo.ny.gov.

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