Investigating IDAs

IDAs need to be more transparent, accountable says Comptroller

Kate O'Connell, WXXI — Wed, 08 May 2013 10:30:00 +0000

The state Comptroller’s office has released its annual report on New York’s 113 Industrial Development Agencies (IDAs), with concerns raised about the effectiveness and transparency of the organizations.

Destiny USA and Syracuse reach deal to avoid legal battles

Ryan Delaney, WRVO — Tue, 02 Apr 2013 20:22:53 +0000

Updated, 8:06 p.m. with statement from Destiny USA.

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.

SIDA and the developer behind Destiny USA, Robert Congel's Pyramid Companies, reached a settlement Monday to avoid up to three lawsuits.

IDAs retain right to give out state tax breaks in budget win

Ryan Delaney, WRVO and Kate O'Connell, WXXI — Tue, 26 Mar 2013 20:10:53 +0000

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.

It's a win for the roughly 115 industrial development agencies, or IDAs, around state, that claimed shifting oversight of state sales tax exemptions to the Regional Economic Development Councils would slow down the development process.

Cuomo argued in his proposed budget that the change would improve economic development and save the state upwards of $14 million a year.

Cuomo reacts to IDA backlash on sales tax budget proposal

Ashley Hassett, WBFO — Fri, 22 Feb 2013 20:00:07 +0000

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.

In recent weeks IDAs across New York state have been pleading with the governor to rethink the proposed change. They argue it will strip them of their ability to manage local economic development projects.

Cuomo wants to shift some IDA powers to his regional councils

Ryan Delaney, WRVO and Ashley Hassett, WBFO — Mon, 18 Feb 2013 19:56:39 +0000

In Gov. Andrew Cuomo’s proposed budget, the state’s Industrial Development Agencies, or IDA’s, would no longer be able to grant state sales tax exemptions for economic development projects. Instead, that authority will go to Cuomo's Regional Economic Development Councils.

It’s a move that has the local economic development agencies upset.

Right now, New York's IDA's have the ability to give out local and state tax breaks in order to encourage economic development.

The governor says the change will keep IDA’s accountable by requiring them to have projects that involve state tax exemptions to be approved by the regional councils. It's also estimated to save the state $7 million this budget season and between $13-14 million in subsequent years.