News Room

Some 9/11 Subsidy Recipients Fail to Meet Job Goals; New York State Recaptures Funds


As the 10th anniversary of September 11th attack on the World Trade Center approaches, it is a good time to review what happened with the subsidies that were allocated to large firms to help them deal with the effects of that tragedy. It turns out that some companies that received those subsidies, including Goldman Sachs, failed to meet their job retention or creation goals, and some have had to repay funds to New York State. More...

Oppenheimer & Co. to receive a $3 million grant to expand in Lower Manhattan


Oppenheimer & Co. is the latest financial firm to apply for a post 9/11 grant for its office expansion in Lower Manhattan. Oppenheimer & Co. joins the ranks of other wealthy firms such as Goldman Sachs, Bank of America, and Bank of New York that have benefitted from this grant program. More...

GJNY participates in forum on IDA reform in Buffalo, NY


With the release of an audit by the Office of the State Comptroller questioning the public value of IDAs around the state, and the Governor's plans for ten statewide regional economic development councils, greater scrutiny is required of the policies intended to spur local economic development. GJNY takes its message of reform and transparency to Buffalo to discuss.


Wage Standard News: EDC Study Questioned and Council Holds Public Hearing


"An Assessment of Methods and Findings of the New York City Economic Development Corporation’s Living Wage Study" co-written with the National Employment Law Project and the Fiscal Policy Institute concludes that an EDC commissioned study on the impact of living wages is an "inaccurate and unreliable guide" for policymakers. More...