July 14, 2010
Staff Contact: Ken Pokalsky
The Business Council participated in ESDC's Albany roundtable presentation on Excelsior this week. Their formal presentation is available here.
Their basic message was:
- Excelsior as adopted has sufficient resources, and is comparable to Empire Zones. ESDC is arguing – see their anchored v. strategic industry table - that (after conceding to move transportation/warehousing sector into the strategic industry category, that the $337 million (2009 data) in credits for anchored business were poor investments. Comparing the $205 million for strategic industries to the full value of Excelsior in year 5 ($250 million), ESDC's position is that Excelsior will be at least as effective, and more efficient, than Empire Zones in achieving high value economic development.
- Excelsior is not the state's only tool, and by making more effective use of other incentives (see 2nd and 4th slide), and with what they describe as the – only are revitalization of the Job Development Authority, ESDC said their programs are comparable with other states and that New York can compete effective for any project.
As you complete your review of the Excelsior program language, I would be interested in your thoughts. I can be reached at 518.465.7511 ext. 205 or Ken Pokalsky at [email protected].