The Economic Development Zone program has become a vehicle for giving tax breaks to a variety of corporations with no clear, consistent, verifiable justification for the public investment.
Director of State Studies Elizabeth Lynam makes two recommendations regarding the FY 2012-13 Executive Budget's economic development proposals. First, the legislature should not authorize additional funds for another round of regional competition until the “hydra” of economic development is tamed.
As Governor Cuomo prepares his executive budget, he should seek structral changes that slow down the state's most potent cost-drivers (pensions, school aid and Medicaid), halt additional economic development spending and steer clear of budget tricks. Senior Research Associate Tammy Gamerman pens an op-ed for the New York Post.
CBC Vice President and Director of State Studies Elizabeth Lynam pens an op-ed listing four principles to govern the operation of the new regional economic development councils. These principles will help the state face the sizable challenges ahead and avoid the mistakes made in past economic development efforts.
Governor Cuomo's new regional councils have the potential to improve meaningful outcomes by streamlining and coordinating the current array of state economic development efforts, but the danger is that they will instead become new heads on the already huge an unwieldy economic development hydra in New York State.
An op-ed penned by CBC President Carol Kellermann and SEIU Local 32BJ President Mike Fishman on the need to revamp New York State's economic development programs.
Deputy Research Director Elizabeth Lynam penned an op-ed in the Albany Times Union that advocates for the overhaul of the State's economic development programs in order to capture true job creation with scarce resources.
This letter was written to urge the State legislature to allow the seriously flawed Empire Zones program to sunset as of June 30, 2010, as established by law, and to enact the Excelsior program as proposed by the Governor.
This presentation defines what an innovation economy is, describes New York's innovation economy's position amongst comparable states in a variety of measurements, and details state spending on research and development.
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