On the heels of the report that Governor Cuomo’s “Start Up New York” program spent $45 million on ads and created only 408 new jobs, a report from State Comptroller Thomas DiNapoli says Empire State Development couldn’t verify that many of the companies in the Excelsior Jobs Program met their obligations in return for tax breaks.
ESD is the agency that hands out millions in tax credits to companies in return for pledges to expand and create jobs in New York. The news that its “Start Up New York” program created just over 400 jobs in two years was quietly released late Friday afternoon
Comptroller DiNapoli’s audit of the agency finds New York’s top economic development agency…in his words…”lowers the bar” and “gives companies a pass when they fall short on their promises.”
The auditors found ESD lowered job creation goals to match what companies actually delivered. They failed to verify if jobs were full or part-time and in some cases couldn’t produce evidence that they companies actually produced jobs instead of just moving them around in return for tax credits.