When Governor Andrew Cuomo proposed a series of reforms for the state’s industrial development agencies, IDA representatives and local elected officials protested. Cuomo essentially wanted to restrict the agencies’ ability to grant exemptions on state sales tax, but local officials said that would rob them of a useful economic development incentive. Well, perhaps predictably, Cuomo’s […]
Industrial development agencies
Posted inNews & Opinion
Legislators wrap up the state budget
The state budget is done, save the governor’s signature on the final legislation. Late last night — or early this morning, to get all technical about it — the Assembly passed the last of the budget bills. The Senate passed the legislation earlier this week. Once Governor Andrew Cuomo signs the legislation, New York will […]
Posted inNews & Opinion
Senate veers from Cuomo’s proposed IDA reforms
When Governor Andrew Cuomo proposed a series of reforms for the state’s industrial development agencies, IDA representatives and local elected officials protested. The governor essentially wanted to restrict the agencies’ ability to grant exemptions on state sales tax, but local officials said that would rob them of a useful economic development incentive. Well, perhaps predictably, […]
Posted inNews & Opinion
State releases IDA data
The state Authorities Budget Office says that between 2008 and 2011, the Monroe County Industrial Development Agency awarded approximately $114 million in tax exemptions to businesses. The exemptions covered county property taxes, local sales tax, state sales tax, and mortgage recording taxes. But COMIDA’s total isn’t particularly high when compared to other Upstate metro IDA’s. […]
