I supported a resolution at our March legislative session that is very important to Onondaga County’s future economic development.
This resolution recognizes the vital role that local industrial development agencies (IDAs) play in New York State to create jobs and encourage economic growth.
Onondaga County Industrial Development Agency (OCIDA) can offer qualified projects exemptions from sales, mortgage and property taxes.
They offer PILOT agreements and may assist with financing projects. They are governed by a seven-member board and are staffed by Onondaga County’s Economic Development office.
According to the Office of the State Comptroller, in 2012 there were 4,521 active IDA-assisted projects across the state with total investment exceeding $72 billion.
These projects created more than 200,000 jobs. Furthermore, projects and proposals were vetted locally by members of the community — representatives that understand the challenges and needs of their regions.
The governor introduced a budget proposal that would undermine local industrial development agencies. The governor would like the Empire State Development Corporation to approve all state sales tax benefits.
Moreover, he would like to authorize the tax commissioner to audit IDAs and require additional recordkeeping and reporting.
It may seem like a good idea to have another entity involved in the process, but there isn’t anything to indicate that OCIDA, or many of the other IDAs state-wide, are abusing their powers.
OCIDA has subcommittees that follow extensive bylaws and policies that provide oversight of management’s internal controls, compliance and risk assessment practices. They adhere to open meetings laws and strict financial disclosure requirements.
The governor’s proposal adds another layer of state approval that will delay the process by at least 30 days and make it more difficult for businesses to receive important incentives.
In a perfect world, where everyone pays the same low taxes, there would be no place for PILOT agreements or economic incentives.
New York state is one of the least business-friendly states in the country.
The last thing we need is to add one more layer of bureaucracy and make it all the more difficult for business to remain here and less attractive to businesses to move here.
I urge you all to let your state representatives know to vote “No” to Gov. Cuomo’s proposal.
Casey Jordan represents the 14th district, which includes the eastern portion of the town of Clay and the village of North Syracuse. Casey welcomes constituent feedback and can be contacted at 699-7246 or by email at [email protected].
