Sentences with phrase «of economic development spending»

Among the ideas excluded from any final budget deal: creation of a database that the public could search for how much every recipient of economic development spending got and how many jobs they created; end the ability by limited liability companies to skirt campaign donation limits; give back certain contract pre-approval powers to the state Comptroller, the state's fiscal watchdog; strengthen the state's criminal laws to better define bribery of public officials; and create an independent watchdog agency to police ethics issues in Albany.

The Assembly would go beyond that, requiring Cuomo to create a public, searchable database of all aspects of economic development spending, including by nonprofit entities created by the state, such as the controversial Fort Schuyler Management Corp..

And another bill would re-establish Comptroller Tom DiNapoli's oversight of economic development spending.

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.

State lawmakers want to see more oversight of economic development spending after the arrests of nine people last week in an alleged widespread scheme involving bid rigging and bribery within key projects designed to spur job creation upstate.

In Buffalo on Tuesday, Gov. Andrew Cuomo criticized state lawmakers and Comptroller Tom DiNapoli for expressing skepticism over the effectiveness of his economic development spending upstate.

The comptroller's office on Wednesday released an audit critical of the Cuomo administration's reporting of economic development spending in the state.

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

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.

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.

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.

Senate Majority Leader John Flanagan reiterated his desire to see a balance re-established when it comes to oversight of economic development spending in the state.

The back - and - forth came after DiNapoli issued a pair of reports this week critical of economic development spending and the agreed - upon state budget, questioning the transparency commitment in the Cuomo administration.

Republican Senate Majority Leader John Flanagan on Tuesday called for greater oversight of economic development spending that includes a «top - to - bottom review.»

Flanagan indicated he wanted a broad - based review of economic development spending, including some areas that are potentially sensitive to Cuomo, such as the money his administration spends on advertising job - creating efforts and a review of the «lack of accountability for major deals and projects that fail miserably when it comes to creating jobs.»

Even more fraught is the debate over procurement reform in the state Legislature, where lawmakers had sought to restore power to the comptroller's office when it comes to oversight of economic development spending.

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.

Chaired by Michael Horgan, the C.D. Howe Institute's Fiscal and Tax Competitiveness Council oversees research and development of policy recommendations to foster effective and efficient spending and tax programs, and ensures that Canadian fiscal policy supports economic dynamism and sustainable income growth.

It compares average public spending per child, by age and type of spending, between the United States, Denmark and the OECD countries combined (that's the Organization of Economic Cooperation and Development, which includes the advanced economies and some of the emerging ones).

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.

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.

But as cities, counties and states compete for economic development, spending on such programs nationwide has climbed into the billions of dollars, even in an era of fiscal austerity.

Cuomo proposed using some of a $ 4 billion surplus, which he acknowledged was a «one - shot» revenue source from numerous financial settlements, on infrastructure spending, education and for helping local governments find ways to share services as part of an overall economic development boost for the upstate region.

Heastie and Flanagan had not murmured a peep about the billions being spent on economic development until the subpoenas started landing, now they are all concerned about the integrity of the process.

Government reform groups hope the bill would provide more transparency of opaque entities that have been used as pass - throughs for major economic development spending.

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.

More scrutiny for economic development spending has been pushed without much success over the last several years despite the arrests of prominent developers and a former aide to the governor.

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.

While the councils have seemingly given the executive branch of government more authority and discretion over economic development spending, Flanagan insisted the appetite for oversight isn't a switch in his approach.

DeFrancisco, an attorney, was first elected to the Senate in 1992 and has emerged as a leading critic of Democratic Gov. Andrew Cuomo's record on taxes, spending and economic development.

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.

Last month, after DiNapoli questioned the effectiveness of state spending and tax breaks for economic development, Cuomo said DiNapoli was «dead wrong» and «he should educate himself in the area.»

Former Chair of CB 12 and a small business owner (he is the proprietor of the X Café at the site of the former Audubon Ballroom, where Malcolm X was assassinated), Ramadan stresses his deep ties to upper Manhattan, where he has spent much of his life since emigrating from Kuwait as a child, and his work in promoting economic development in Upper Manhattan.

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.

«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 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.

«State government just squandered its opportunity to restore public confidence to the procurement process and shed light on billions of dollars in economic development spending.

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.

A Database of Deals was supported by both the Senate and Assembly in their budget resolutions, and the Governor agreed in the budget to create a report by January 2018 detailing the spending for each economic development program.

Cuomo, however, regularly notes the strength of economic and job development during his tenure while he has held state spending to about 2 percent annually.

Sen. John DeFrancisco, a main sponsor of the procurement bill that would re-authorize Comptroller Tom DiNapoli to have oversight of major economic development spending efforts, seemed less - than - bullish on the bill's chances.

The proposal largely mirrors what Gov. Andrew Cuomo had initially proposed and continues to back in the closing days of the legislative session, as state lawmakers have pushed legislation that would re-empower the state comptroller's office to review spending related to major economic development projects.

Still, a handful of budget bills have gone to print, including amended spending proposals for the public - protection and general government spending, as well as transportation and economic development spending.

Gov. Andrew Cuomo on Monday at the state Business Council's annual retreat in Bolton Landing gave what has become a sort of greatest - hits speech for his administration: A property tax cap, a self - imposed limit on annual spending increases, economic development spending and a tourism push that has paid out dividends of more people heading upstate.

Among the spending items spread throughout the pages of the bills is $ 400 million for the second phase of the Buffalo Billion economic development program.

Poloncarz's economic plan calls for spending $ 500,000 to $ 1 million for park development with an expected completion date of 2020.