Are Tax Breaks From Industrial Development Agencies Creating Jobs In The Hudson Valley?

“The Lower Hudson Valley’s primary economic development engines — industrial development agencies — in 2010 reported the creation of 16,000 jobs, using generous tax incentives to lure companies to the region and help others expand.But securing those new jobs cost taxpayers an average of $4,100 per position. The increasing use of incentives contributed to rising property taxes for many homeowners”

Most frightening fact (among many): “Most IDAs acknowledge they cannot guarantee that companies create the jobs they promise. Companies that receive benefits are required to certify their employment figures annually, but such self-reported data have drawn criticism from state authorities who question their accuracy.”


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