But the conference, which the governor's aides said was the first of many to be held around the Upstate area, also gave Cuomo the opportunity to defend
his economic development programs from critics who have said the programs have failed to create significant numbers of Upstate jobs.
The Minister for Finance, Ken Ofori Atta has given assurances that government will do whatever it takes to protect its socio -
economic development programs from collapse.
This policy brief updates the Citizens Budget Commission's (CBC's) analysis of the cost of New York's state and local economic development programs.1 The February 2015 report Bigger Not Better: New York's Expanding Economic Development Programs examined
economic development programs from 2010 to 2014 and urged greater reporting, scrutiny, and control of this growing and extensive portion of the budget.
Not exact matches
Important factors that could cause actual results to differ materially
from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability of new and maturing
programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military
development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787
program; 4) margin pressures and the potential for additional forward losses on new and maturing
programs; 5) our ability to accommodate, and the cost of accommodating, announced increases in the build rates of certain aircraft; 6) the effect on aircraft demand and build rates of changing customer preferences for business aircraft, including the effect of global
economic conditions on the business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result of global
economic uncertainty or otherwise; 8) the effect of
economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange rates; 9) the success and timely execution of key milestones such as the receipt of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation of our announced acquisition of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production of aircraft resulting
from cancellations, deferrals, or reduced orders by their customers or
from labor disputes, domestic or international hostilities, or acts of terrorism; 14) any adverse impact on the demand for air travel or our operations
from the outbreak of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover
from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the impact of future discount rate changes on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price for our announced acquisition of Asco on favorable terms or at all; 18) competition
from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of changes in tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging
programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing
program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
According to recent statistics
from the International Business Innovation Association (InBIA), there are about 7,000 business incubators and accelerators worldwide, with over 90 percent being non-profit and focused on incubator
programs for community
economic development.
Funded through the Federal
Economic Development Agency for Southern Ontario (FedDev Ontario) and with support
from the Canadian Innovation Centre (CIC) and a consortium of other non-profit Regional Innovation Centres, including MaRS, the
program is geared to train as many as 450 entrepreneurs over 15 months, and provide as much as $ 4 million in seed financing to qualified applicants.
Many factors could cause BlackBerry's actual results, performance or achievements to differ materially
from those expressed or implied by the forward - looking statements, including, without limitation: BlackBerry's ability to enhance its current products and services, or develop new products and services in a timely manner or at competitive prices, including risks related to new product introductions; risks related to BlackBerry's ability to mitigate the impact of the anticipated decline in BlackBerry's infrastructure access fees on its consolidated revenue by developing an integrated services and software offering; intense competition, rapid change and significant strategic alliances within BlackBerry's industry; BlackBerry's reliance on carrier partners and distributors; risks associated with BlackBerry's foreign operations, including risks related to recent political and
economic developments in Venezuela and the impact of foreign currency restrictions; risks relating to network disruptions and other business interruptions, including costs, potential liabilities, lost revenues and reputational damage associated with service interruptions; risks related to BlackBerry's ability to implement and to realize the anticipated benefits of its CORE
program; BlackBerry's ability to maintain or increase its cash balance; security risks; BlackBerry's ability to attract and retain key personnel; risks related to intellectual property rights; BlackBerry's ability to expand and manage BlackBerry (R) World (TM); risks related to the collection, storage, transmission, use and disclosure of confidential and personal information;
Many factors could cause BlackBerry's actual results, performance or achievements to differ materially
from those expressed or implied by the forward - looking statements, including, without limitation: BlackBerry's ability to enhance its current products and services, or develop new products and services in a timely manner or at competitive prices, including risks related to new product introductions; risks related to BlackBerry's ability to mitigate the impact of the anticipated decline in BlackBerry's infrastructure access fees on its consolidated revenue by developing an integrated services and software offering; intense competition, rapid change and significant strategic alliances within BlackBerry's industry; BlackBerry's reliance on carrier partners and distributors; risks associated with BlackBerry's foreign operations, including risks related to recent political and
economic developments in Venezuela and the impact of foreign currency restrictions; risks relating to network disruptions and other business interruptions, including costs, potential liabilities, lost revenues and reputational damage associated with service interruptions; risks related to BlackBerry's ability to implement and to realize the anticipated benefits of its CORE
program; BlackBerry's ability to maintain or increase its cash balance; security risks; BlackBerry's ability to attract and retain key personnel; risks related to intellectual property rights; BlackBerry's ability to expand and manage BlackBerry ® World ™; risks related to the collection, storage, transmission, use and disclosure of confidential and personal information; BlackBerry's ability to manage inventory and asset risk; BlackBerry's reliance on suppliers of functional components for its products and risks relating to its supply chain; BlackBerry's ability to obtain rights to use software or components supplied by third parties; BlackBerry's ability to successfully maintain and enhance its brand; risks related to government regulations, including regulations relating to encryption technology; BlackBerry's ability to continue to adapt to recent board and management changes and headcount reductions; reliance on strategic alliances with third - party network infrastructure developers, software platform vendors and service platform vendors; BlackBerry's reliance on third - party manufacturers; potential defects and vulnerabilities in BlackBerry's products; risks related to litigation, including litigation claims arising
from BlackBerry's practice of providing forward - looking guidance; potential charges relating to the impairment of intangible assets recorded on BlackBerry's balance sheet; risks as a result of actions of activist shareholders; government regulation of wireless spectrum and radio frequencies; risks related to
economic and geopolitical conditions; risks associated with acquisitions; foreign exchange risks; and difficulties in forecasting BlackBerry's financial results given the rapid technological changes, evolving industry standards, intense competition and short product life cycles that characterize the wireless communications industry.
IRRI's work in India is supported by contributions
from ICAR, the DAC; state agricultural universities (SAUs); the Government of India and its Department of Biotechnology; state agriculture departments (MOA); Asian
Development Bank (ADB); United States Agency for International
Development (USAID); International Fund for Agricultural
Development (IFAD); Bill & Melinda Gates Foundation (BMGF); Australian Centre for International Agricultural Research (ACIAR); Swiss Agency for
Development and Cooperation (SDC); International Initiative for Impact Evaluation; SARMAP; German Federal Ministry of
Economic Cooperation and
Development (BMZ); CGIAR Challenge
Program on Water and Food (CPWF); CGIAR Climate Change, Agriculture, and Food Security Research
Program (CCAFS); Generation Challenge Programme (GCP); Japan's Ministry of Finance; the Biotechnology and Biological Sciences Research Council of the UK (BBSRC), the Department for International
Development (DFID); and the European Commission (EC).
Although the budget also provides $ 100 million to the MTA's capital
program from redirected
economic development funds, it also proposes using $ 165 million of Metropolitan Mass Transportation Operating Assistance Account funds to pay debt services on State bonds previously issued for the MTA capital
program that otherwise would be paid
from the General Fund and transferring $ 35 million in MMTOA funds to the General Fund.
The gist of our testimony was that the legislature should not appropriate any new funds for discretionary
economic development programs until there are major transparency and accountability reforms, including a Database of Deals, Clean Contracting reforms and restrictions on campaign contributions
from state -LSB-...]
Just as concerning that Cuomo felt the need to campaign for the follow - up to his signature
economic development program was the fact that there didn't appear to be a single state legislator
from the region there with him.
The Fulton Street Nassau Crossroads
program, organized by the NYC
Economic Development Corporation, has received 92 applications
from storefronts since outreach began in March 2009, according to Ali Ruth Davis, assistant vice president of government and community relations at the E.D.C. Davis presented an -LSB-...]
Earlier yesterday, AFL - CIO President Denis Hughes complained that the Senate last week passed legislation with «record speed» to boost the number of charter schools statewide to 460
from 200, while labor's agenda to increase unemployment insurance and overhaul the state's
economic development programs remains in limbo.
Another set of big - ticket Cuomo priorities was already baked into this week's budget «extender» bill: nearly $ 15 billion in capital appropriations for purposes ranging
from basic infrastructure (highways, transit) to a $ 400 million second phase of Cuomo's Buffalo Billion initiative, a $ 700 million «community healthcare capital investment» in Brooklyn, and more 8 - figure allocations to the kind of «
economic development»
programs that have failed to rejuvenate Upstate.
It is a charge he has leveled as legislators seek input into the state's regional council
economic development program, which gets advice
from panels of academic and business volunteers in doling out $ 750 million around the state.
«It has now been determined that these projects will be funded
from the New York Works
Economic Development Fund to better facilitate management of the
program,» the memo states.
As two separate investigations into the Buffalo Billion continue, one
from the U.S. Attorney's office and another ordered by the governor, State Comptroller Thomas DiNapoli said his office is also looking into parts of the
economic development program.
The state's
economic development programs have expanded over the last four years in both scope and cost, a report
from the Citizens Budget Commission released on Thursday found.
The $ 330 million Ferris wheel project in Staten Island lost out on state funding
from Governor Andrew Cuomo's
economic development program yesterday.
She said some of the money could come
from cutting the estimated $ 8 billion spent each year on
economic development programs.
Public Forums to learn about the CFA process and how to access the up to $ 1 billion in
economic development funding
from agency
programs through one application
But notably missing
from the breezy conversation was the scandal swirling around his key
economic development program — the Buffalo Billion initiative.
«Corruption of our state's
economic development programs is the symptom of a more systemic problem, a government that has become increasingly insulated
from the will of the people,» she said, according to the transcription.
And with the recent arrests of 10 Cuomo associates linked to various upstate
economic development programs, Flanagan warned he expects lawmakers
from both houses will grill the governor's commissioners during next year's budget hearings.
ALBANY — While a federal investigation of Gov. Andrew Cuomo's administration appears to be partially focused on former aide Joe Percoco's consulting work for two companies that benefited
from state
economic development programs, it appears the practice of holding side jobs isn't common among members of the executive chamber.
However, high unemployment, inadequate infrastructure, and limited supportive
programs have contributed to
economic stagnation in the neighborhood over the last decade, precluding Jamaica
from realizing the potential of previous City investments in the area — including the
development of the Jamaica AirTrain terminal in 2003 and a 2007 rezoning of 368 blocks in the area aimed at providing a dynamic mix of residential, business, and community opportunities in the heart of the downtown.
The seven regions that were not winners in the Upstate Revitalization Initiative or were not eligible to compete in it will still receive funding ranging
from $ 83.9 million to $ 100.3 million in 2016 under Cuomo's regional
economic development council
program.
Ahead of the 2018 legislative session, the New York State Assembly's
Economic Development Committee held a hearing Monday in Albany to evaluate the progress of the state's multitude of economic development programs and hear testimony from companies and organizations that have benefited from state
Economic Development Committee held a hearing Monday in Albany to evaluate the progress of the state's multitude of economic development programs and hear testimony from companies and organizations that have benefited from st
Development Committee held a hearing Monday in Albany to evaluate the progress of the state's multitude of
economic development programs and hear testimony from companies and organizations that have benefited from state
economic development programs and hear testimony from companies and organizations that have benefited from st
development programs and hear testimony
from companies and organizations that have benefited
from state grants.
Although SU won't receive funding
from this
program, it was part of a winning bid
from the Central New York Regional
Economic Development Council that won $ 500 million in state funding as part of Cuomo's Upstate Revitalization Initiative.
The state's $ 211 million advertising campaign to promote
economic development programs and attract businesses to the state has not produced any «tangible results» in terms of generating new jobs and business for the state, an audit
from Comptroller Tom DiNapoli's office found.
The facts, as confirmed by ongoing independent quantitative research, show our efforts have made great strides in improving perceptions of New York State, creating greater awareness of our
economic development programs, increasing the perception that New York is a good or excellent place to do business by 122 percent among executives
from out of state, as well as attracting more tourists to spend their vacations here.
Cuomo's former top aide and confidant, Joe Percoco, is being eyed for his role in
economic development programs, while he's also received consulting feeds
from companies with business before the state.
While a federal investigation of the Cuomo administration appears to be partially focused on former aide Joe Percoco's consulting work for two companies that benefited
from state
economic development programs, it appears the practice of holding side jobs isn't common among members of the executive chamber.
In particular, Cuomo seemed to equate criticism of
economic development spending and his tax - free START - UP NY
program with «bashing Buffalo» — a city that's benefitted
from the state's largesse in recent years.
In addition, resources
from a wide range of existing agency
programs will be available to businesses and project sponsors for
economic development purposes that are consistent with Regional Council plans through the Consolidated Funding Application.
Pending completion of the regional plan, this $ 200 million initial package can be supplemented
from other State
programs with applicable infrastructure and
economic development components.
The Buffalo region was not eligible for any of the Hunger Games cash, thanks to its Buffalo Billion, but the area did receive $ 83.9 million for 125 projects under the latest round of funding
from the state's Regional
Economic Development Council
program.
David Robinson: «Just as concerning that Cuomo felt the need to campaign for the follow - up to his signature
economic development program was the fact that there didn't appear to be a single state legislator
from the region there with him.»
Cuomo and legislative leaders have huddled in recent weeks, with top lawmakers emerging
from his office to say they had discussed some sort of vague
economic development program.
Senate Majority Leader John Flanagan, a Republican
from Long Island, told State of Politics on Wednesday that the state should be «forging ahead» with current
economic development programs.
[140] Money
from New York State Governor Andrew Cuomo through a
program known locally as «Buffalo Billion» has brought new construction, increased
economic development, and hundreds of new jobs to the area.
IRS documents show that Bray's compensation grew substantially over the years, peaking at $ 591,451 in 2008, including a $ 418,726 bonus
from Crossroads Incubator Corp., another private arm of the county's
economic development program.
In a statement, a spokesperson for New York's
Economic State
Development program says, «This
program remains in place and the proposed adjustments, which are based on feedback
from businesses, will help it reach its full potential.
More recently, it appears
from press accounts and government websites that Governor Cuomo has begun using Multi-Modal
Program money as an important part of Regional
Economic Development Council grants.
Corruption in our state's
economic development programs is the symptom of a more systemic problem, a government that has become increasingly insulated
from the will of the people.
The gist of our testimony was that the legislature should not appropriate any new funds for discretionary
economic development programs until there are major transparency and accountability reforms, including a Database of Deals, Clean Contracting reforms and restrictions on campaign contributions
from state vendors.
Critics of the governor's
economic development programs say there's more that he can do to get out
from under the scandal.
The top New York official in charge of
economic development efforts will face scrutiny at a hearing next week
from lawmakers concerned about the effectiveness of the state's job creation
programs.
That includes $ 1.4 million in funding
from the Regional
Economic Development Council and $ 5 million the Buffalo Billion Phase Two
program.