Tag: economic development

Oct 11

2016

‘Billion mastermind Kaloyeros resigns

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The fall from grace is just about complete for Alain Kaloyeros. The so-called “nano-tech guru” who Gov. Andrew Cuomo has praised as a “near genius” has resigned as CEO of SUNY Polytechnic Institute. His success building a nano-technology sector in the Albany area prompted Cuomo to put Kaloyeros in charge of his initiative to revitalize the upstate economy through a series a big-ticket projects in Buffalo, Dunkirk, Rochester, Syracuse and Utica. But reporting by Investigative Post into the awarding of a lucrative contract to LPCiminelli to build a factory for SolarCity triggered investigations by U.S. Attorney Preet Bharara and State Attorney General Eric[...]

Posted 8 years ago

Sep 23

2016

Double talk from Cuomo on ‘Billion indictments

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Gov. Andrew Cuomo obviously believes the best defense is a good offense. The governor came to town Friday, fresh off the indictment of three of his close associates and two of his major campaign contributors and attempted to claim victory. He told a gathering at the Albright-Knox Art Gallery that Buffalo is booming and announced a second phase of the Buffalo Billion program is coming as soon as Howard Zemsky figures out what it should involve. In short, Cuomo tried to change the topic. Only after his remarks before a sympathetic audience at the art gallery did he address the[...]

Posted 8 years ago

Sep 22

2016

More dubious Buffalo Billion dealings

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Editor’s note: This story has been updated to reflect new developments as of Sept. 22, 2016.  The close relationship between EYP Architecture and Engineering and (currently suspended) SUNY Polytechnic President Alain Kaloyeros was further described by state attorney general Eric Schneiderman in a complaint unsealed today. State investigators allege that EYP, referred to as “Architect-1” throughout the complaint, was described as SUNY Poly’s “in-house architect” by a former employee of Columbia development, whose president has been charged with collaborating with Kaloyeros to rig bids for a project to build SUNY Poly housing. The employee told investigators that EYP had been involved[...]

Posted 8 years ago

Sep 19

2016

SUNY Poly plays by the rules — or, guidelines

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Editor’s note: A version of this story published Sunday in the Times Union of Albany. Two state-affiliated development corporations at the center of a federal corruption probe operated for years without rules commonly used by government agencies to promote competition, discourage favoritism and get the best deal for taxpayers when choosing companies to do business with. As a result, they’ve used unusually loose procurement policies to select developers for multimillion dollar projects, an Investigative Post analysis shows. Some of their contract awards – often to Gov. Andrew Cuomo’s major campaign donors – are now being investigated by state and federal[...]

Posted 8 years ago

Aug 10

2016

Record losses at SolarCity

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SolarCity posted a record net loss of $250 million for the second quarter of this year, according to financial statements filed Tuesday with the Securities and Exchange Commission. Losses for the first half of this year stand at a staggering $533 million, putting the company on pace to lose more than $1 billion for 2016. Losses last year totaled $710 million. SolarCity’s financial woes are one of the reasons it’s in line to be taken over by Tesla, the electric car manufacturer. Noted entrepreneur Elon Musk is chairman of both companies and their largest shareholder. Tesla has its share of financial problems,[...]

Posted 8 years ago

Aug 1

2016

Heaney talks subsidies on ‘Pressroom

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Jim Heaney, in a wide-wide ranging interview with Susan Arbetter of The Capitol Pressroom, discusses the lack of transparency around state economic development programs and a dubious $125,000 grant made to an ice cream parlor under the Buffalo Billion. The interview, which broadcast July 28, runs from 22:20 to 36:43. Heaney will turn the tables on Arbetter when he interviews her Sept, 13 in front of a live audience at the Burchfield Penney Art Center. Tickets are just $10 and can be purchased here.

Posted 8 years ago

Jul 14

2016

Buffalo Billion program at Daemen struggles

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When Sonja Slother enrolled in a fledgling film production program at Daemen College, her enthusiasm was buoyed by the college’s partnership with a company committed to creating more than 100 jobs. The initiative, which was awarded $4.5 million in Buffalo Billion funding, was meant to train a workforce for the visual effects industry Gov. Andrew Cuomo said would take root in Western New York – and, specifically, for the company Daemen had partnered with, Empire Visual Effects. State and college officials touted the training program as a fast track into high-paying jobs. A graphic designer by profession, Slother had recently been[...]

Posted 8 years ago

Jun 8

2016

Cuomo’s flawed model, Part 2

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Jim Heaney, in a second story prepared for WBFO and other upstate NPR stations, details how the model being used to develop major economic development projects upstate thwarts transparency and involves other questionable practices. Part 1 aired Tuesday.

Posted 8 years ago
Investigative Post

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