The Briefing Room
State Chapters => NY/NJ => Topic started by: Suppressed on July 15, 2017, 03:21:39 pm
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Cuomo doubles down on his failed corporate-welfare agenda
By Kieran Michael Lalor January 17, 2017 | 7:15pm
http://nypost.com/2017/01/17/cuomo-doubles-down-on-his-failed-corporate-welfare-agenda/
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If you thought central planning died with the Soviet Union, you were wrong. Gov. Cuomo has revived it — with predictably disastrous results.
Cuomo’s 2017 agenda doubles down on the corporate welfare that failed spectacularly in 2016, leading to indictments, waste and the continued mass exodus of ambitious and productive New Yorkers out of the state.
The administration waited until the Legislature adjourned the 2016 session to release the job-creation numbers from Start-Up New York. The timing ensured we wouldn’t be in session to amend or repeal the program that produced just 408 jobs while spending $53 million in TV ads. Each job created required the state to tax other New Yorkers to pay at least $130,000 per job.
Meanwhile, the state comptroller issued a report which found that Empire State Development, an agency that seems to specialize in corporate welfare, played fast and loose with the facts after doling out tax breaks.
Companies can get such tax breaks by agreeing to create a certain number of jobs; rather than hold them accountable, the comptroller found that ESD merely changed the promised jobs numbers from the agreements — after the fact. That way, when fewer jobs were created than promised, the state merely pretended that was what the company had agreed to from the beginning.
In the fall, eight of the governor’s closest aides, including Cuomo’s flamboyant nanotech czar Alain Kaloyeros, were indicted. The charges include bid rigging and bribery related to Cuomo’s signature economic-development effort, the Buffalo Billion. The project will require taxpayers to fork over $750 million to build and equip a factory for billionaire-owned SolarCity, in exchange for 5,000 jobs — a per-job cost of $150,000.
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Excerpt. Read more at http://nypost.com/2017/01/17/cuomo-doubles-down-on-his-failed-corporate-welfare-agenda/
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They know but one way.
We need an Elba for Cuomo, Brown, et al.
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I live in another part of the country so I see the Start Up NY commercials all the time, and I've wondered what was the catch. I thought companies that fell for that were being stupid, but I guess it was just bribery.