Report: NY tax breaks don’t do much to create jobs
Joseph Spector
Operating expenses at the state’s public authorities soared nearly 18 percent over the past five years, but the number of jobs they created haven’t kept pace, a report released Tuesday found.
The report from the state Authorities Budget Office is the latest to question the effectiveness of tax breaks and grants that the local authorities give to businesses in hopes of creating jobs.
Of the 425,000 jobs that the state created between 2009 and 2013, about 1 percent of those, roughly 4,500, came from the 186 projects backed by local industrial development authorities, the report said. But the IDAs did meet their job projections, the report said.
“It’s very difficult to come away with any certainty over what contribution did they make in adding to these 400,000 jobs,” said David Kidera, executive director of the Authorities Budget Office.
http://polhudson.lohudblogs.com/2014/07/09/report-ny-tax-breaks-dont-much-create-jobs/
