Committee backers have received over $ 1 billion
in economic development subsidies from an out - of - control and unaccountable system which the Cuomo administration has declined to reform.
Combined with various state tax credits, Destiny has received nearly $ 704 million in government subsidies, making it one of the biggest recipients
of economic development subsidies in the country, according to a report released Thursday by Good Jobs First.
US Attorney Preet Bharara's probe of the Buffalo Billion has spurred good government reformers to call for an overhaul of how the state hands
out economic development subsidies.
Assemblyman Jim Tedisco, a Republican from suburban Schenectady, wants to require infrastructure projects and
economic development subsidies drawn from discretionary funds to be lined out in the state budget that lawmakers are hoping to adopt before the new fiscal year starts next month.
«We are spending hundreds of millions of dollars
in economic development subsidies, tax payer monies that are being used to subsidize private corporations that were supposed to create jobs,» he said.
The December fundraiser also came one week after Cuomo announced that Central New York was one of three upstate regions to win $ 500 million in
economic development subsidies.
He'll also, again, have to confront an inevitable chorus of advocates (including some elected lawmakers) to reform the systems of lobbying, campaign finance and
economic development subsidies that made the alleged schemes possible.
Job growth across upstate New York remains sluggish despite billions in economic development subsidies