It also wants to know about «claw backs,» which are methods by which economic development incentives are paid back to the government when companies do not
meet job creation goals.
This isn't the first time GE has failed to meet
job creation goals on state - subsidized projects: a 1998 grant also failed to meet employment goals and was later partially repaid, according to the ESD filings (see page 24).
Finally, it revises the 504's
job creation goals by allowing the SBA to guarantee $ 65,000 in debt for every job created or retained, up from $ 50,000.
A July audit from the comptroller's office also slammed another initiative, the Excelsior Jobs Program, for poor records compliance and the lowering
of job creation goals.
The agency that runs the state's Excelsior Jobs tax credit program often failed to check on companies» eligibility before they joined the program and did not follow up on whether the companies had met their investment and
job creation goals before awarding them tax credits, the state Comptroller's Office found in a critical audit.
The representative for the Assembly Democrats on the board did require, as a condition for a «yes» vote, that the Cuomo administration provide monthly progress reports on the projects and more accurate information on
whether job creation goals are met, and if not, that appropriate financial sanctions are imposed.
To date, the company has already created 60 new jobs and is «on track» to
meet job creation goals, the office of Gov. Andrew Cuomo said in a news release.
Empire State Development, which will provide the grant, will require NexGen to repay portions of the money if the company fails to meet
its job creation goals.
To date, the company has created 60 new jobs at the plant and is on track to meet
its job creation goal off 100 this year, company officials said.