Reinvent Albany is a leading member of the coalition of watchdog groups pressing for fairer, cleaner and more accountable economic development subsidies. Our focus is on ensuring that existing subsidies are awarded fairly and competitively. But, like many, we are increasingly concerned about the overall effectiveness of handing out taxpayer dollars to select businesses. We are not alone. Today, the USA Today Network’s local NY papers concluded a six month investigation with a major expose on how economic development funds are spent in NY. Here’s what USA Today wrote:
(Business subsidies) are wrought with a lack of oversight, poor performance and questions about whether the state is getting the best bang for big bucks.
We congratulate USA Today’s New York team and highly recommend you read the whole series.
USA Today Network investigation:
NY’s Big Breaks for Business