Tag: economic development

Jun 24

2015

Demone Smith promoted despite violations

Published by

Demone Smith’s long history of violating the state elections law hasn’t stopped Mayor Byron Brown from appointing him to a key position in his cabinet. Smith, majority leader of the Common Council and a political ally of the mayor, starts next week as executive director of the Buffalo Employment and Training Center. The center matches employers with city and county residents seeking jobs. Over the past decade, Smith has failed to file campaign disclosure reports on time 28 times. That’s prompted the state Board of Elections to impose seven penalties, five of which remain unpaid. Smith owes $3,382 in penalties.[...]

Posted 10 years ago

Jun 22

2015

Shenanigans beset Buffalo Billion

Published by

Editors note: A version of the following story published this past weekend in the Rochester Democrat & Chronicle, Albany Times Union, Binghamton Press & Sun-Bulletin, and Poughkeepsie Journal. The accompanying video was co-produced with WGRZ.  Editorials calling for greater transparency in the program were subsequently published by the Democrat & Chronicle and Times Union. The Buffalo Billion program championed by Gov. Andrew Cuomo is a bold and costly experiment in economic development that is beset by secrecy and politics, and banking on a company with a history of losing money. The program — hailed in Buffalo but resented across much of the rest of New[...]

Posted 10 years ago

Jun 17

2015

SolarCity update: Progress and problems

Published by

Construction of the massive $750 million solar panel manufacturing plant is approaching the half-way point and SolarCity is starting to hire in anticipation of a phase in of operations early next year. Meanwhile, the company is losing record amounts of money, its stock price is languishing and federal investigators continue to look at some of its past dealings out of state. New York officials, for their part, continue to thwart efforts to open the SolarCity project to public scrutiny.

Posted 10 years ago

Apr 29

2015

Yahoo’s sky-high subsidies

Published by

Everyone in these parts has heard of the Buffalo Billion. Overlooked is another government subsidy program that could be called the Lockport Half-Billion. By any standard, the incentives granted Yahoo to build a data and call center in Lockport are generous. Consider that the Yahoo subsidies: Will cost up to $478 million to build a single facility that employs 200 people. The Buffalo Billion, by comparison, will finance the construction of three major facilities projected to create some 3,750 jobs and underwrite several dozen smaller projects. Work out to $2.4 million per job – an “astronomical” figure in the words[...]

Posted 10 years ago

Mar 26

2015

Panel split on need for new Bills stadium

Published by

A new stadium for the Buffalo Bills would cost $1 billion to construct and require up to $600 million in public infrastructure improvements, an entrepreneur who has proposed building a facility on the Outer Harbor says. A new Bills stadium was the topic of discussion for a panel of speakers Wednesday during a happy hour discussion at Allen Street Hardware sponsored by Investigative Post. But do the Bills really need one, especially considering the $130 million in renovations to Ralph Wilson stadium that the team unveiled this past season? “Absolutely yes,” said George Hasiotis, vice president of the Greater Buffalo Sports &[...]

Posted 10 years ago

Mar 5

2015

Outer Harbor: Toxins, yes; transparency, no 

Published by

(Editor’s note: Watch WGRZ’s 6 p.m. newscast Friday for a second installment of the package.) The state’s latest approach to developing the Outer Harbor calls for expediting the construction of housing next to a partially remediated Superfund site contaminated with sludge that possibly causes cancer. The revised scheme is aimed at mollifying opposition to the Erie Canal Harbor Development Corporation’s original plan to build housing next to the environmentally sensitive Times Beach Nature Preserve. Shifting the first phase of residential and commercial development a mile south of Times Beach borrows from a plan advocated by Buffalo Niagara Riverkeeper that has[...]

Posted 10 years ago

Feb 12

2015

Real State of WNY Economy

Published by

The Investigative Post crew after Wednesday’s event: reporters Charlotte Keith and Dan Telvock, Editor Jim Heaney, Development Director Kate Heidinger. (Photo by Sara Heidinger Photography.)  Investigative Post Editor Jim Heaney delivered his first “Real State of the Community” address Wednesday night before a packed conference room at the Theodore Roosevelt Inaugural Site. The audience, which included City Comptroller Mark Schroeder and Erie County Clerk Chris Jacobs, heard Heaney use data to detail the state of the Buffalo and Western New York economy. The region is enjoying the start of an economic revival, which Gov. Andrew Cuomo has described as a “national[...]

Posted 10 years ago

Feb 12

2015

Falls hotel subsidies defy recommendation

Published by

The American side of Niagara Falls has too many cheap hotels and not enough high-end ones – so a specialist consultant told state officials in a 2011 report. The proposed solution: build more high-end hotels and don’t subsidize budget or mid-range ones because of their “limited potential for economic impacts.” The state has since invested $5.6 million to help finance three upscale hotels. The Niagara County Industrial Development Agency has given another $8.3 million in tax breaks to three high-end hotels, including two that also received money from the state. But the IDA has also approved $7 million in tax[...]

Posted 10 years ago
Investigative Post