industrial development agencies http://wrvo.org en Miner says tax break for Destiny USA hotel would be a "mistake" http://wrvo.org/post/miner-says-tax-break-destiny-usa-hotel-would-be-mistake <p>S<span style="line-height: 1.5;">yracuse Mayor Stephanie Miner says giving the Destiny USA entertainment and shopping center a tax break to build a hotel would be “a mistake,” but the mayor actually has little say over those incentives.</span></p> Wed, 12 Feb 2014 22:51:28 +0000 Ryan Delaney 51299 at http://wrvo.org Miner says tax break for Destiny USA hotel would be a "mistake" Watertown Stream call center's parent company selling to rival http://wrvo.org/post/watertown-stream-call-centers-parent-company-selling-rival <p></p><p>The Stream Global Services call center in Watertown will change hands when its parent company is bought by a rival, <a href="http://www.reuters.com/article/2014/01/06/us-stream-convergys-deal-idUSBREA0512B20140106">according to Reuters</a>. It’s not clear what effect that might have on the 700 employees who work there.</p><p>Don Alexander heads the Jefferson County Industrial Development Agency. He says Stream’s significance to the area’s economy can’t be overstated and the company has been a good employer.</p> Fri, 10 Jan 2014 13:08:40 +0000 Joanna Richards 49734 at http://wrvo.org State subsidy system lacks transparency at regional level http://wrvo.org/post/state-subsidy-system-lacks-transparency-regional-level <div class="card-content"><div class="field field-name-body field-type-text-with-summary field-label-hidden "><div class="field-items"><div class="field-item even"><p></p> Tue, 10 Dec 2013 20:15:21 +0000 Kate O'Connell 48359 at http://wrvo.org State subsidy system lacks transparency at regional level Jefferson County entrepreneurs will have harder time finding startup funds http://wrvo.org/post/jefferson-county-entrepreneurs-will-have-harder-time-finding-startup-funds <p>Entrepreneurs in Jefferson County are going to have a harder time finding startup money, now that a loan fund meant to help them is running low. That's good news and bad news.</p><p>Here's the bad news: The Industrial Development Agency's micro-enterprise loan fund is down to about&nbsp;$31,000. That means the next successful applicant is going to drain it dry.</p><p>"At some point, someone is going to come to the loan fund for dollars for their business, and we won't have any to lend," says Don Alexander, IDA chief.</p> Thu, 14 Nov 2013 00:36:21 +0000 Joanna Richards 47127 at http://wrvo.org Jefferson County entrepreneurs will have harder time finding startup funds Former New Venture Gear plant may have new tenant http://wrvo.org/post/former-new-venture-gear-plant-may-have-new-tenant <p>The old New Venture Gear auto parts factory in suburban Syracuse could have a new tenant much quicker than county economic development officials expected.</p><p>A newly formed company called American Intermodal Container Manufacturing Inc. wants to use about half of the large factory to make shipping containers.</p><p>New Venture Gear concluded a long shutdown of its DeWitt plant in August. It once employed 4,000 people making parts for SUVs.</p> Tue, 04 Jun 2013 12:33:42 +0000 Ryan Delaney 38932 at http://wrvo.org Former New Venture Gear plant may have new tenant IDAs need to be more transparent, accountable, says comptroller http://wrvo.org/post/idas-need-be-more-transparent-accountable-says-comptroller <div class="card-content"><div class="field field-name-body field-type-text-with-summary field-label-hidden "><div class="field-items"><div class="field-item even"><p>The New York state comptroller’s office has released its<a href="http://www.osc.state.ny.us/localgov/pubs/research/ida_reports/2013/idaperformance2013.pdf" target="_blank"> annual report</a> on New York’s 113 Industrial Development Agencies (IDAs), with concerns raised about the effectiveness and transparency of the organizations. Wed, 08 May 2013 20:48:22 +0000 Kate O'Connell 37465 at http://wrvo.org IDAs need to be more transparent, accountable, says comptroller Destiny USA and Syracuse reach deal to avoid legal battles http://wrvo.org/post/destiny-usa-and-syracuse-reach-deal-avoid-legal-battles <p></p><p>For the first time in Bill Ryan's 10 years of public service, Syracuse and the owner of the Destiny USA mega-sized shopping mall are not facing legal action. Ryan is a former common councilor and now chief of staff for the mayor and chairman of Syracuse Industrial Development Agency (SIDA), the city's development arm. Tue, 02 Apr 2013 20:29:55 +0000 Ryan Delaney 35663 at http://wrvo.org Destiny USA and Syracuse reach deal to avoid legal battles IDAs retain right to give out state tax breaks in budget win http://wrvo.org/post/idas-retain-right-give-out-state-tax-breaks-budget-win <p>New York's numerous economic development bodies will still have the ability to give out state-level tax breaks in a deal struck with Gov. Andrew Cuomo in state budget negotiations. Wed, 27 Mar 2013 09:46:00 +0000 Ryan Delaney 35321 at http://wrvo.org Cuomo reacts to IDA backlash on sales tax proposal http://wrvo.org/post/cuomo-reacts-ida-backlash-sales-tax-proposal <p>During his visit to western New York on Thursday, Gov. Andrew Cuomo reacted to the backlash by Industrial Development Agencies (IDAs) against his executive budget proposal that would remove their powers to grant state sales tax exemptions. Fri, 22 Feb 2013 20:38:14 +0000 Ashley Hirtzel 33763 at http://wrvo.org Cuomo reacts to IDA backlash on sales tax proposal Cuomo wants to shift some IDA powers to his regional councils http://wrvo.org/post/cuomo-wants-shift-some-ida-powers-his-regional-councils <p>In Gov. Andrew Cuomo’s proposed budget, the state’s <a href="http://innovationtrail.org/topic/investigating-idas" target="_blank">Industrial Development Agencies</a>, or IDAs, would no longer be able to grant state sales tax exemptions for economic development projects. Instead, that authority will go to Cuomo's <a href="http://innovationtrail.org/topic/regional-councils" target="_blank">Regional Economic Development Councils</a>. Tue, 19 Feb 2013 10:01:00 +0000 Ryan Delaney & Ashley Hirtzel 33516 at http://wrvo.org Money from Destiny USA could be used for Inner Harbor upgrades http://wrvo.org/post/money-destiny-usa-could-be-used-inner-harbor-upgrades <p>Some of the money collected through <a href="http://innovationtrail.org/post/syracuse-shaking-much-out-destiny-usa-megamall-it-can" target="_blank">the tax break agreement between the Destiny USA mega-mall and Syracuse</a> will be used to try and win federal funding for Inner Harbor improvements. The Syracuse Industrial Development Agency (SIDA) has approved the use of $500,000 from Destiny payments to be part of a match for a federal grant the city is applying for. Tue, 04 Dec 2012 21:29:02 +0000 Ryan Delaney 30001 at http://wrvo.org Money from Destiny USA could be used for Inner Harbor upgrades Biotech company will bring $72 million expansion to the Capital Region http://wrvo.org/post/biotech-company-will-bring-72-million-expansion-capital-region <p>Regeneron Pharmaceuticals, a Tarrytown-based biotech company, has announced a $72 million expansion in the Capital Region, which is expected to add 300 new jobs.</p><p> Thu, 15 Nov 2012 21:33:20 +0000 Marie Cusick 29191 at http://wrvo.org Biotech company will bring $72 million expansion to the Capital Region Syracuse, Destiny USA appear headed to court over parking lots http://wrvo.org/post/syracuse-destiny-usa-appear-headed-court-over-parking-lots <p>The saga of the owner of the Destiny USA megamall and the city of Syracuse continues. The two appear destined to end up back in court as the Syracuse Industrial Development Agency (SIDA) plans to file a lawsuit against developer Robert Congel's Pyramid Group - the mall's owner - over parking lots. Tue, 25 Sep 2012 13:06:11 +0000 Ryan Delaney 26537 at http://wrvo.org Syracuse, Destiny USA appear headed to court over parking lots North side could have grocery store again in time for Christmas http://wrvo.org/post/north-side-could-have-grocery-store-again-time-christmas <p>Residents on Syracuse's north side could have a grocery store within walking distance again by the end of the year.</p><p>Syracuse's development agency approved tax breaks Thursday morning to help Tops Friendly Markets replace a Wegmans that left this summer. Thu, 06 Sep 2012 17:10:00 +0000 Ryan Delaney 25574 at http://wrvo.org North side could have grocery store again in time for Christmas IDA reform bill stuck in neutral http://wrvo.org/post/ida-reform-bill-stuck-neutral <p><span id="primaryContentDepotPortlet.contentDescription">In recent years, donut shops, car dealerships, and doctor&#39;s offices have received tax breaks from industrial development agencies in western New York.</span></p><p><span>Now, a first-term state legislator from Buffalo has crafted a bill to halt such deals.</span></p><p> Sat, 26 May 2012 21:00:00 +0000 Daniel Robison 19904 at http://wrvo.org IDA reform bill stuck in neutral DiNapoli: IDAs not delivering on job creation promises http://wrvo.org/post/dinapoli-idas-not-delivering-job-creation-promises <p>More tax breaks does not equal more jobs.</p><p>That&#39;s according to State Comptroller Thomas DiNapoli&#39;s latest report on New York&#39;s industrial development agencies (IDAs).</p><p><a href="http://www.osc.state.ny.us/localgov/pubs/research/idaperformance2012.pdf" target="_blank">In his fifth report on IDAs [PDF]</a>, DiNapoli says the number of jobs created by the local economic development engines dropped by 22,000 from the year before.</p><p>DiNapoli also cites a $483 million gap in what IDAs gave out in tax breaks and how much they took in via payments-in-lieu-of-taxes (PILOTs).</p><p>That breaks down, the report finds, to a $2,659 cost per job - up 9 percent from the year before.</p><p>&quot;Taxpayers are not getting enough bang for their buck when it comes to IDAs,&quot; DiNapoli said in a statement. Thu, 03 May 2012 13:07:45 +0000 Ryan Delaney 18636 at http://wrvo.org DiNapoli: IDAs not delivering on job creation promises Back-taxes force Syracuse IDA board member to resign http://wrvo.org/post/back-taxes-force-syracuse-ida-board-member-resign <p>Two days after being publicly outed for owing Syracuse and the county nearly $97,000 in back taxes, a board member of the Syracuse Industrial Development Agency (SIDA) has resigned.<br /><br />His tenure with SIDA was short: He sat in on just two board meetings.</p><p>But one of those meetings included a &quot;yes&quot; vote on a controversial tax break for&nbsp;<a href="http://wrvo.fm/post/syracuse-bookstore-flash-point-debate-over-development" target="_blank">a proposed construction project on the University Hill</a>.</p><p>And that was the catalyst for his ouster. Fri, 23 Mar 2012 16:09:23 +0000 Ryan Delaney 16447 at http://wrvo.org Back-taxes force Syracuse IDA board member to resign