Subsidy Sheet: NYC taxpayers shelling out for Queens soccer stadium

July 19, 2024

NY corporate giveaway news from this week:

NYC taxpayers approved hundreds of millions for the Yankees and an oil baron for the new Queens soccer stadium (Hell Gate). Another investigative tour de force by Field of Schemes’ Neil deMause.
NY ranks number four in subsidies to Amazon nationally, beaten out only by Oregon, Virginia, and Illinois (Switch on Business – h/t to Investigative Post for sharing). The group, pulling from Good Jobs First data, produced a colorful breakdown of which Amazon subsidiaries get the tax breaks, with NY distribution centers making up the bulk (see chart below).
In an editorial, Newsday 1) opposes a bill that would require reps from unions and school boards on industrial development agencies, and 2) supports IDAs getting more involved in housing production.
Excelsior! CNBC’s 2024 analysis says that New York is the 22nd best state to do business in and NY is not one of the 10 worst states for quality of life.

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