Sentences with phrase «new economic development spending»

Lawmakers and good - government groups say reforms that include stronger oversight of spending, a database of contracts and even a freeze on new economic development spending may be needed.

New Economic Development Spending: Over the last seven years economic development spending has expanded greatly, with few documented results.1 New York State spent $ 4.0 billion in fiscal year 2016.2 The Executive Budget increases Empire State Development (ESD) capital spending by $ 338 million to $ 1.9 billion and non-ESD economic development capital spending $ 234 million to $ 633 million.

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.

Such risks, uncertainties and other factors include, without limitation: (1) the effect of economic conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels of end market demand in construction and in both the commercial and defense segments of the aerospace industry, levels of air travel, financial condition of commercial airlines, the impact of weather conditions and natural disasters and the financial condition of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization of the anticipated benefits of advanced technologies and new products and services; (3) the scope, nature, impact or timing of acquisition and divestiture or restructuring activity, including the pending acquisition of Rockwell Collins, including among other things integration of acquired businesses into United Technologies» existing businesses and realization of synergies and opportunities for growth and innovation; (4) future timing and levels of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability of credit and factors that may affect such availability, including credit market conditions and our capital structure; (6) the timing and scope of future repurchases of United Technologies» common stock, which may be suspended at any time due to various factors, including market conditions and the level of other investing activities and uses of cash, including in connection with the proposed acquisition of Rockwell; (7) delays and disruption in delivery of materials and services from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits of organizational changes; (11) the anticipated benefits of diversification and balance of operations across product lines, regions and industries; (12) the outcome of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact of the negotiation of collective bargaining agreements and labor disputes; (15) the effect of changes in political conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect of changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU, on general market conditions, global trade policies and currency exchange rates in the near term and beyond; (16) the effect of changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.

Our future capital requirements may vary materially from those currently planned and will depend on many factors, including our rate of revenue growth, the timing and extent of spending on research and development efforts and other business initiatives, the expansion of sales and marketing activities, the timing of new product introductions, market acceptance of our products and overall economic conditions.

Given the absence of a public trading market of our common stock, and in accordance with the American Institute of Certified Public Accountants Accounting and Valuation Guide, Valuation of Privately - Held Company Equity Securities Issued as Compensation, our board of directors exercised reasonable judgment and considered numerous and subjective factors to determine the best estimate of fair value of our common stock, including independent third - party valuations of our common stock; the prices at which we sold shares of our convertible preferred stock to outside investors in arms - length transactions; the rights, preferences, and privileges of our convertible preferred stock relative to those of our common stock; our operating results, financial position, and capital resources; current business conditions and projections; the lack of marketability of our common stock; the hiring of key personnel and the experience of our management; the introduction of new products; our stage of development and material risks related to our business; the fact that the option grants involve illiquid securities in a private company; the likelihood of achieving a liquidity event, such as an initial public offering or a sale of our company given the prevailing market conditions and the nature and history of our business; industry trends and competitive environment; trends in consumer spending, including consumer confidence; and overall economic indicators, including gross domestic product, employment, inflation and interest rates, and the general economic outlook.

Gilmartin has spent nearly her entire private - sector professional life at Forest City, joining the firm in 1994 after a post-college stint working for New York City's economic development agency.

According to an incentives contract recently signed with the Indiana Economic Development Corp., Clear Software plans to spend about $ 700,000 to open a new headquarters in downtown Zionsville, where it will hire up to 190 employees by the end of 2019.

At 12:30 p.m., Reclaim New York Initiative hosts a rally and press conference with residents and lawmakers to urge the removal of $ 1 billion in taxes and fees included in the governor's budget, and urge savings and oversight for economic development spending, Million Dollar Staircase, 3rd Floor, state Capitol, Albany.

The state budget includes no significant new controls or oversight on how the Cuomo administration spends money on economic development projects, and that troubles many lawmakers after federal prosecutors accused eight men of bid - rigging schemes in earlier development projects.

As part of the state budget, Long Island and New York City are getting an extra $ 550 million this year for economic development spending, Capital New York reported.

Western New York is getting $ 62 million for approved projects in the latest round of state spending from the regional economic development councils.

When the program launched in 2001, New York shot to the top of the national rankings for average spending on economic development, according to research by Timothy Bartik, senior economist at the Upjohn Institute for Employment Research.

Lawyers representing six of the defendants have spent the past several weeks in a new letter - writing campaign to a federal judge seeking dismissal of the bid - rigging corruption charges leveled against individuals involved in several major upstate economic development programs, including the mega-construction project at Tesla's Riverbend site in South Buffalo.

The state through Cuomo has poured millions into western New York economic development and has spent millions to keep the team at its current address in Orchard Park.

The top legislative leaders in the Democratic - led Assembly and GOP - controlled Senate on Tuesday indicated they support approving $ 485.5 million in spending for a subsidiary of the under - investigation SUNY Polytechnic, saying the money is vital for the continuation of the economic development program in western New York.

Congratulations to the team at Investigative Post of Buffalo, Pro Publica, and Columbia Journalism School for publishing the best summation of New York State economic development spending done to date.

Cuomo also rolled back New York's estate tax, eliminated the dedicated bank tax, cut corporate taxes and has increased economic development spending that critics on the left and right deride as corporate welfare.

Jury selection in the trial of a former close aide to Gov. Andrew Cuomo starts today in New York City in a case that could show the intersection of money and politics in the public policy of economic development spending.

While good - government groups and lawmakers push for more oversight and transparency of economic development spending in New York, legislative leaders in Albany still hope to strike a deal with Governor Andrew Cuomo on the issue.

Cuomo appeared alongside the members of the Central New York Regional Economic Development Council — including the council's co-chairs, Syracuse University Chancellor Kent Syverud and CenterState CEO President Robert Simpson — to discuss the significance of the $ 500 million award, which will be spent over the course of five years.

greater, independent oversight and review of New York's economic development programs and discretionary spending.

As investigations surrounding economic development programs continue to swirl in New York, Republican state lawmakers yesterday made a renewed push for oversight of spending that's meant to create jobs.

Gov. Andrew Cuomo spent Sunday in Israel, a trip that sought to show solidarity amid a spate of anti-Semitic attacks in United States as well as one to meet with business leaders to discuss economic development efforts with New York.

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.

The push and pull over the control of the economic development spending comes after the arrests last year of prominent upstate developers, former SUNY Polytechnic President Alain Kaloyeros and an ex-top aide and confidant to the governor, Joe Percoco, in a case stemming from kickbacks and bid rigging related to key economic development spending in New York.

Earlier in the summer, DiNapoli's office had released reports critical of economic development spending in New York under Cuomo's administration.

A sticking point in the budget talks is emerging between Gov. Andrew Cuomo and state lawmakers over the control of hundreds of millions of dollars in economic development spending that would benefit western New York as well as the regional economic development councils.

The governor also defended the economic development spending in western New York, primarily for SolarCity, a company whose finances have fallen under question.

New York spent $ 21,206 per pupil compared to a national average of $ 11,392 in school year 2014 - 2015.38 Better targeting spending to the highest needs districts would contain costs while ensuring that all students have access to a sound basic education.39 The State wastes $ 1.2 billion annually on property tax rebates and allocates $ 4 billion annually on economic development spending with a sparse record of results.40 Curtailing spending in these areas would reduce pressure to increase taxes and lessen the tax differential with other states.

Currently, the Citizens Budget Commission (CBC) prepares the most comprehensive view of state and local economic development efforts statewide; however, the usefulness of this presentation is limited because it is based mostly on available data published for past years.1 A UEDB should be part of the Executive and Enacted budgets and should include prospective information showing the costs of all economic development programs for the coming fiscal year.2 To capture the full scope of economic development costs, a UEDB should bring together tax expenditures and spending at state agencies and authorities, as well as the value of discounted power offered by the New York Power Authority.

A good - government watchdog on Monday called for a halt to economic development spending until transparency measures and other new controls are put in place as a safeguard against corruption.

SYRACUSE, N.Y. - Gov. Andrew Cuomo's signature economic development program, Start - Up NY, created just 408 new jobs in its first two years - including nine in Central New York - despite millions of dollars spent advertising the progrnew jobs in its first two years - including nine in Central New York - despite millions of dollars spent advertising the progrNew York - despite millions of dollars spent advertising the program.

Cuomo spent a week in January rolling out his ambitious budget agenda, which contained plans for a new criminal justice system for teens who commit serious crimes, and a major upstate economic development program.

In response to ESD's repeated delays and denials of Freedom of Information Law (FOIL) requests, Reclaim New York (Reclaim) filed a lawsuit today in State Supreme Court against New York State's lead economic development agency to obtain public records related to how the agency spent $ 246.5 million on advertising initiatives.

The Fiscal Policy Institute has long supported government transparency and accountability, especially in regards to New York's out - of - control economic development spending, and is pleased that the New York State Senate has passed these bills.

Amid a push to clean up Albany following a series of scandals that rocked the Senate and Assembly — including the convictions of both legislative leaders last year — as well as ongoing corruption probes into economic development spending in upstate New York, most voters, 56 percent to 27 percent, believe the measures approved in June won't lead to a significant reduction in fraud and corruption.

Subsidy spending is largely uncoordinated, with the state's regional economic development councils only coordinating around 6 percent of the $ 7 billion spent each year in New York on corporate tax subsidies, the groups said.

Comptroller Thomas DiNapoli said in a statement, «New York state spends hundreds of millions of dollars each year to spur economic development and job creation through ESDC programs.

During a boat ride along Buffalo's waterfront, during which Governor Andrew Cuomo and other political leaders celebrated economic development, the head of Empire State Development announced that Moog Incorporated will soon spend million of dollars and create new jobs at two of its ldevelopment, the head of Empire State Development announced that Moog Incorporated will soon spend million of dollars and create new jobs at two of its lDevelopment announced that Moog Incorporated will soon spend million of dollars and create new jobs at two of its local sites.

Not unlike its bullish attitude toward the state's economic development spending, which has also raised questions about appropriate metrics, Gov. Andrew Cuomo's administration has defended ESD's advertising outlays as effective means of keeping up with other states and vanquishing the idea that New York is hostile to business.

ALBANY — Both houses of the Legislature will approve separate state budget plans this week permitting Gov. Andrew M. Cuomo to spend $ 500 million on a new round of Buffalo Billion economic development programs in Western New Yonew round of Buffalo Billion economic development programs in Western New YoNew York.

The budget would increase spending by two percent while expanding economic development and jobs programs and providing some protections for the poorest New Yorkers and immigrants.

Assembly Republican Leader Brian M. Kolb said New York state economic development spending outpaces every other state by a large measure.

But it did provide data showing the state receives less in taxes from Western New York than it spends in the region in major spending categories like education, economic development, roads and human services.

There will be another competition for state economic development dollars, if the state legislature approves spending $ 1.5 billion for Gov. Andrew Cuomo's proposed Upstate New York Economic Revitalization Compeconomic development dollars, if the state legislature approves spending $ 1.5 billion for Gov. Andrew Cuomo's proposed Upstate New York Economic Revitalization CompEconomic Revitalization Competition.

Timothy J. Bartik, a senior economist at the institute and the report's author, said New York state likely spent more on economic development.

The article also cited research from the Citizens Budget Commission, a nonpartisan government watchdog group, that likewise found more than $ 8 billion spent each year on economic development incentives in New York state.

ALBANY, N.Y. — As investigations surrounding economic development programs continue to swirl in New York, state lawmakers on Monday made a renewed push for oversight of spending that's meant to create jobs.

New York is spending more than ever in the name of economic development — $ 8.6 billion last fiscal year alone, according to an estimate by the Citizens Budget Commission, a nonpartisan group that tracks state spending.