IDAs are getting out of control, handing out huge tax breaks in exchange for modest job creation. The IDA in Genesee County is a poster child for such excess, but a counterpart downstate is in a league all by itself.
$4 million per job granted to Plug Power and 68 jobs to locate at its STAMP industrial park. (The project never got off the ground.)
Of late, it’s the $11.7 million per job handout that the IDA is dangling to a data center developer to build there, bringing 125 jobs to the rural industrial park.
The IDA has nothing on its counterpart in Rockland County, located downstate. The IDA there has approved a $77 million subsidy package in exchange for a promise of creating one additional job…