Manhattan Borough President Releases Senseless Subsidies
The report, released on May 29, 2008, urges lawmakers to reform New York City's Industrial and Commercial Incentive Program (ICIP). At a cost of $410 million in tax expenditures in the 2007 tax year, ICIP is the city's most costly economic development subsidy program. State legislation authorizing the program is set to expire at the end of June.
• Read the Borough President's Press Release and Report
• Read Good Jobs New York's Statement
• Read New York State Senator Liz Krueger's Statement