Archive: Business & Technology

Acting on the recommendation of its Economic Development Committee, the Legislature is urging the State Legislature and the Governor to reject proposed legislation, entitled the 'Just and Open Business Subsidies (JOBS) Act of 2014', that would take away the autonomy of local Industrial Development Agencies and require benefits provided through those IDAs to go through the State’s regional Consolidated Funding Application process.

Officials maintain that change would cause significant delays and would undermine the local economic development process.  The measure was approved by a vote of 13-1, with Legislator Carol Chock voting no.

The resolution states that the legislation, if enacted, “will further bureaucratize the economic development process, off-load local decision-making to regional councils appointed by the Governor that meet periodically and are not responsible to local communities, and create disincentives to businesses that may negate the incentives the State’s economic development programs are intended to provide.”

County Administrator Mareane said that the abrupt end-of-session consideration by the State Legislature has commenced with little or no notice to local governments and has prompted serious concern within the economic development community.

Legislator Martha Robertson, former chair of the Tompkins County IDA, predicted the regulation, if implemented, with its requirement for additional approvals, would stop deal flow.  “What this would mean, I’m sure, is that nobody would ever bring a project to the IDA again,” she said.

Legislator Chock said she still needed more time to review the matter and would have supported tabling the measure were there more time before the end of the State legislative session.

v10i21