New York State Comptroller Thomas DiNapoli says Empire State Development has failed to meet more than half of the reporting requirements it set for the tax credit and job creation programs it approves.
DiNapoli released an audit of the state’s chief economic development agency, saying ESD is often late, or failing to report the results of its programs at all. He says better reporting is needed to ensure transparency for the taxpayers.
From 2012 to 2016, DiNapoli’s staff found nearly half of the legally-required outcome reports weren’t completed. Sixty-one Percent of the reports on specific programs weren’t done. A dozen programs with appropriations of more than $500 million were not reported on at all.
ESD officials strongly dispute the findings but say they are putting new audit controls in place.