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Poll: Should the state have a say in how local IDAs hand out tax breaks?
Should the state have a say in how local development agencies hand out tax breaks to businesses?
Gov. Andrew M. Cuomo wants to require IDA projects that receive an exemption from the state sales tax to be approved by a regional economic development council, which he appoints.
"When it comes to the IDAs that are giving out tax benefits, I want to make sure these entities are doing it as well as it can possibly be done -- that there is coordination; that there is a plan," Cuomo said earlier this month on Long Island.
He said he wants to make sure "that we're not stealing one business from one side of town and giving it a tax break to move to the other side of town, which generates no new jobs, costs tax dollars and just has us competing with ourselves."
IDAs, which provide tax breaks to expanding companies, oppose the plan, saying it would delay building projects and erode local control. If Cuomo's proposal had been in place last year, they contend hundreds of jobs would have been lost at IDA-backed projects.
What do you think? Vote and leave a comment. Poll results and a selection of comments will be published in next Sunday's business section.