Two programs that are supposed to help attract and/or preserve businesses in New York are about to expire. They aren't all that popular as they are. But something needs to be done. Some consideration from The Buffalo News Opinion section:
- Make state competitive - Buffalo News Editorial
New York's Empire Zone economic development plan will expire next month, and for all of the criticism it has received — much of it justified — the fact is that without an incentive program, this state cannot compete for the jobs it needs to stem the exodus of jobs and people as well as support its insatiable appetite for tax dollars.
That's true for two reasons. One is that other states offer incentives to keep and attract businesses. All other things being equal, any company is bound to be attracted to a state that significantly lowers its cost of doing business.
The second thing is that all other things are decidedly unequal. Taxes are higher in New York. Insurance costs more in New York. Electricity costs more in New York. Labor costs more in New York. Regulations are more impenetrable in New York. The state starts at a disadvantage in keeping and attracting business, so it must play catch-up twice: first to even the field and again to compete with the incentives offered by states that are already more business friendly.
As Albany starts looking for a new model — Gov. David A. Paterson's proposed Excelsior Jobs Program is a dead duck — it needs to keep some goals prominently in mind, all of them flowing from Reasons 1 and 2 above. ...
Attorney General Andrew M. Cuomo, who has just announced his campaign for governor, released his own proposal recently, and it does a number of things right, but it also lacks some important components. In particular, it needs an investment tax credit, which the expiring Empire Zone plan featured.
- Power for Jobs plan improves - Buffalo News Editorial
Lawmakers in Albany appear to be coalescing around a bill that would renew and reform the state Power for Jobs program while ensuring that upstate’s legitimate interests are protected. It is a significant improvement from the previous effort. ...
Or, maybe, we'll just never go to work:
-- George Pyle/The Buffalo News
taggedCurrent Affairs | Editorials