Dec 16
2013
An analysis by the influential rating service on the clean energy project recently announced by Gov. Andrew Cuomo concludes: “The long-term impact to the region may be limited … The clean technology industry is relatively volatile … and its ability to jumpstart a struggling post-industrial economy is untested.” A report from State of Politics.
Nov 26
2013
Gov. Andrew Cuomo’s tax commission has determined that corporate tax breaks totaled $1.8 billion last year. “If you eliminated all the credits, you could cut business taxes enormously for everybody,” one official told the New York Daily News.
Nov 26
2013
Those upset by the prospect of Delaware North Companies receiving public subsidies to move into new office space are 13 years and some $4 million too late. The company has been receiving public assistance since it moved into its present headquarters at Key Center in 2000. Sales and property tax breaks, some of which continue until its office lease expires in 2015, total an estimated $4.1 million. That’s not counting the $11.6 million low-interest line of credit Delaware North obtained from the city when it moved into its new quarters for a spell, until federal officials objected because the money[...]
Nov 25
2013
Jim Heaney of Investigative Post, in the first of a two-part series, counts the many ways Delaware North Companies and Uniland Development would reap tax savings from their proposal to build an office building at Delaware Avenue and Chippewa street. The assorted tax breaks add up to $12 million to $15 million and go well beyond what the companies are seeking from the Erie County Industrial Development Agency. Tomorrow, Investigative Post documents the millions of dollars of subsidies Delaware North has been receiving since 2000. Check out WGRZ’s newscast at 6 p.m., along with a full story InvestigativePost.org and the[...]
Nov 22
2013
Jim Heaney interviews Alain Kaloyeros, who put together the clean energy project announced Thursday, and Howard Zemsky, co-chairman of the Western New York Regional Economic Development Council. Some underreported details emerged from the 20-minute interview, which was conducted Thursday afternoon at WGRZ.
Nov 21
2013
Investigative Post teamed with WGRZ to provide insight into Thursday’s announcement by Gov. Andrew Cuomo that the state is investing $225 million to build and equip facilities that will house two fledging clean energy firms. Dan Telvock provided background on the two companies, both based in California. They have small work forces and are still searching for profitability, but are nevertheless regarded as innovation leaders in their industries. The deal with the state obligates the firms to invest $1.5 billion and operate in Buffalo for at least 10 years. Jim Heaney interviewed Alain Kaloyeros, the chief architect of the deal, and[...]
Nov 20
2013
It was nearly two years ago when Gov. Andrew Cuomo announced his intention to invest $1 billion to revitalize the Buffalo area economy. Not much of that money has been earmarked so far, but that will change Thursday morning when the governor is scheduled to come to town to announce what is shaping up as the state’s largest investment ever in the local economy. Sources tell Investigative Post this deal has been months in the making and far surpasses the first Billion To Buffalo deal involving drug research, development and manufacturing at the Buffalo Niagara Medical Campus. That project, scheduled to[...]
Nov 10
2013
The Albany Times Union explains the many nuances involved in Gov. Andrew Cuomo’s push to export the model used to develop a nanotechnolgy sector in Albany to other other upstate cities, including Buffalo. The plan here involves developing clusters focused on energy, technology and medical.