Declaring “jobs are jobs,” Niagara County officials voted Wednesday to grant $700,000 in tax breaks to redevelop a shopping mall that’s failed to make good on two previous subsidies. The Niagara County Industrial Development Agency voted unanimously to approve property and sales tax breaks to Toronto developer Zoran Cocov to assist his $17.4 million plan […]
Should the Summit Mall in Wheatfield enjoy a third round of taxpayer subsidies? The Niagara County Industrial Development Agency will consider a proposal Wednesday from a Toronto developer that calls for about $700,000 in property and sales tax breaks. The subsidies would go towards a $17 million renovation of the mall, which now stands largely […]
The Buffalo Sabres like to point out that HarborCenter, which opens later this week, is privately financed to the tune of $172.2 million. Left unsaid is that the complex is also publicly subsidized, enjoying an estimated $57 million in local and state tax breaks. That makes HarborCenter one of the most heavily subsidized downtown development […]
Gov. Andrew Cuomo is investing $750 million of taxpayer funds and the hopes of a community desperate for an economic recovery in a company that is losing money, weathering two federal investigations and facing, by its own admission, an uncertain economic future. To hear Cuomo tell it, the construction of a solar panel manufacturing plant […]
My first blush impressions of the SolarCity deal announced Tuesday by Gov. Andrew Cuomo: It’s a rich package. The state is committing $750 million – $350 million to build a manufacturing plant and $400 million in potentially forgivable loans to equip it – in exchange for creating 3,000 jobs, half of which would be employed […]
Gov. Andrew Cuomo last fall pledged $225 million to build and equip a clean energy hub along Buffalo’s waterfront. It was good enough for Silevo, a solar panel manufacturer, and Soraa, the makers of high-efficiency light bulbs. It apparently isn’t good enough for SolarCity, however, which bought Silevo in June. Cuomo has subsequently suggested it’s […]
SolarCity is buying Silevo, which last fall announced plans to bring 475 jobs to the city under the Buffalo Billion Program. SolarCity is a much bigger operator and has plans to increase the planned manufacturing plant’s capacity five-fold, which would make it among the largest such facilities in the nation. More jobs are also anticipated, […]
Investigative Post editor Jim Heaney discusses the SolarCity deal, and the thinking behind the Buffalo Billion initiative, with WGRZ’s Danny Spewak in a 6 minute, 42 second interview taped Tuesday evening.