News Room

August Economic Development News


News we're following this month.


August 19, 2013: Federal Hurricane Sandy Rebuilding Task Force Releases Rebuilding Recommendations


The Hurricane Sandy Rebuilding Task Force, created by President Obama and chaired by U.S. Department of Housing and Urban Development Secretary Shaun Donovan, released recommendations for rebuilding in Hurricane Sandy Rebuilding Strategy, Stronger Communities, A Resilient Region. GJNY released three blog posts offering a critiques of the Task Force's recommendations on our "Clawback" blog:

Learn more about how New York City plans to allocate the first round of Community Development Block Grants in our "At a Glance: Federal Disaster Relief After Sandy" (available in Chinese).  In July, 2013 the city proposed an amendment to this plan, but it has not been approved yet.


July Economic Development News


Upcoming rally: Turning the Tide: Remember Sandy, Revive our City! Also: Sandy Regional Assembly releases analysis of SIRR report; The New York City Industrial Development Agency Board of Directors approved subsidy for Fresh Direct; New York City Independent Budget Office examines redevelopment options for defaulted Yankee Parking Garages


July 23, 2013: Sandy Regional Assembly releases analysis of Special Initiative of Rebuilding and Resiliency (SIRR) Report


The Sandy Regional Assembly – convened by nearly 200 participants from community, labor and civic groups from communities most impacted by     Superstorm Sandy (and most vulnerable to future storm surges) - issued a Sandy Regional Recovery Agenda in April, a mix of suggested capital projects and policy recommendations to advance adaptation and community resiliency strategies for the r More...

IDA Board votes on Fresh Direct deal


The New York City Industrial Development Agency Board of Directors approved the proposed subsidy to Fresh Direct. The community responded to the vote.


July 15, 2013: Proposed Amendment to CDBG-DR Action Plan


The Bloomberg Administration announced an amendment to the approved Action Plan for the first round of CDBG funds on the NYC Recovery website. A seven-day public comment period, which was required, is now closed. More...

June Economic Development News


IBO New York City By the Numbers update on 421-a tax exemption; My Brooklyn, Our City launches; New York State Department of Financial Services fines Deloitte $10 million


New York spends the most on large subsidy deals, in a national study by Good Jobs First


Study: Giant Job Subsidy Packages Grow More Common and Costly


Economic Development May News


Four reports released this month reveal the shortfalls of corporate economic development subsidies.


Study: How Well Do Big Cities and Counties Disclose Which Companies Get Economic Development Subsidies?


Washington, DC—Good Jobs First will hold a tele-press conference on May 30 to issue a major study evaluating large U.S. cities and counties on whether they disclose online which companies are receiving property tax abatements, tax increment financing and other local economic development subsidies. Such subsidies are estimated to cost taxpayers about $35 billion a year. Read the report