Election 2018
June 22, 2018 at 10:33 AM

Molinaro Pledges to End Corporate Giveaways
Will reform state's failed and bloated economic development programs
Empire State Development's 2017-18 budget $2.768 billion is eight times larger than in 2012-13 $335 million

Albany, June 22...Standing outside the Executive Chamber in the New York State Capital, New York gubernatorial candidate Marc Molinaro (R-C-Reform) today pledged to dramatically reform the state's failing and bloated economic development programs and to start by ending the practice of sending discretionary taxpayer dollars to privately held corporations. 

The cash grant ban is another important plank in Mr. Molinaro's "2019 Albany Accountability Act," which he has been rolling out throughout the state. Mr. Molinaro has already pledged to use his leverage as governor to ban pay-to-play donations, hold a vote on state term limits, and empower an independent auditor to review all state government contracts. Additional planks in the 2019 Albany Accountability Act will be announced in the coming days.

"Amazon, Google, and Cadillac are great companies, all doing just fine, we wish them well - but they simply don't need our tax dollars to keep or grow their operations in New York," said Molinaro. 

As reported in the Policy By Numbers, "Upstate's Uneven Metropolitan Economies - Implications for Policy Makers," Empire State Development's 2017-18 budget $2.768 billion is eight times larger than in 2012-13 $335 million. New York's profligate spending in stands in stark contrast to other comparable state's such as Ohio's and Michigan's economic development corporations. JobsOhio reported expenditures of $96 million in 2017 and Michigan Economic Development Corporation's budget was $54 million in that year.

"Whether it's pay to play, one-upping Bill de Blasio or one of the Governor's personal hobbies, New Yorker's can't afford to foot the bill for Andrew Cuomo's failed and corrupt approach to job creation," said Molinaro.

By any measure, Cuomo's economic development programs are an abject failure. According to Policy By Numbers, "the New York City metropolitan area, where two-thirds of the state's population lives, has seen private sector employment growth (42.4%) that is near the national rate (48.3%). Albany-Schenectady-Troy's employment growth - 27.5% - is much higher than the remaining New York state metropolitan areas. Job growth in central and western upstate New York, and in other rust belt metropolitan areas, has lagged. Buffalo's job growth during the period was 7.9%, while the Syracuse and Rochester metropolitan grew by 4.7% and 10.6% respectively. Utica-Rome grew 3.9%, while Binghamton lost 14.1% of employment in goods and services."

Concluded Molinaro, "The evidence is clear, whether it's the Syracuse film hub, Solar City or Start-Up NY, Andrew Cuomo's job development policies are not only corrupt but a complete and utter disaster for New Yorkers."

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