New York State spends billions of dollars to entice companies to move to New York and create jobs. But in tonight’s New York state Exposed report, we’re asking if we are getting a return on that investment with your tax dollars.

The amount of money is so big it’s hard to get your head around it. We’re talking billions of dollars. But we want to start by telling you a story that shows the system can work.

Click here to see how much New York State spent trying to incentivize business to come to New York

Greg Westbrook, ClearCove CEO: “Really our fundamental technology here.”

Greg Westbrook is the CEO of ClearCove in Victor. Read what he says his company does.

Greg Westbrook, ClearCove CEO: “We take water, waste water, take the organic matter out of it, make methane gas from that process, and we deliver clean water to the customer.”

This is a StartUpNY company. That means for 10 years employees don’t pay state income tax and the company doesn’t pay corporate tax.

Greg Westbrook, ClearCove CEO: “We’re now at 18 employees. Started out with two or three employees, to 18.”

The state says StartUpNY has created more than an 1,100 jobs, but now look at this: A study out last week by ProPublica, a non-profit New York City based investigative journalism outfit, shows 11 New York State programs spent $3 billion on companies in the form of cash grants or tax breaks over four years.

Job growth upstate over that time? Worse than 47 other states.

© 2017 WHEC

 

 

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