Blog

It’s “big”! It’s “bold”! It “could really make a difference“! It’s Governor Andrew Cuomo’s Tax-Free NY proposal, subject of some of the biggest, boldest gubernatorial rhetoric since … well, since Cuomo’s launch two weeks ago of round three of the state Regional Economic Development Councils, which in turn came on the heels of a resort gaming destination plan in early May, neither of which should be confused with the “new day” proclaimed by the governor at last year’s yogurt summit. Read More

By wrapping up a gambling agreement with the Saint Regis Mohawk Tribe this week, Governor Cuomo moved another step closer to implementing his “resort gaming destination plan,” which he says can “supercharge” economic development. Read More

The one promising new wrinkle in the upstate economic development plan unveiled today by Governor Andrew Cuomo is the offer of full (if impermanent) exemptions from state business and personal income taxes, as well as sales taxes, to firms that expand into designated Tax Free Zones at colleges, universities and “strategically located state-owned” properties. Read More

Twenty-seven* school districts were seeking to override the state's property tax cap in yesterday's school budget votes. Twenty of these districts -- or 74 percent -- failed to collect the needed 60 percent supermajority to pass, according to news accounts. The closest result was in the Cornwall School District in Orange County, which fell two votes short of an override supermajority. Read More

Financial disclosure filings made public yesterday have revealed that Governor Andrew Cuomo has a net worth of at least $1.75 million. But in one sense, that doesn’t actually make him unusual among New York government employees at his level of education and experience. Read More

The latest economic data for New York continues to relate a tale of two states. Private sector employment growth in New York as a whole slightly trailed the national average on a year-to-year basis, but was much stronger in the New York City metropolitan area. The 52-county upstate region grew at just half the national rate from April 2012 to April 2013, according totoday’s monthly jobs release from the state Labor Department. Read More

The state pension fund gained about 10.4 percent on its investments during the recently ended 2012-13 fiscal year, Comptroller Thomas DiNapoli announced today. The latest gain is comfortably above the pension fund’s 7.5 percent target rate of return. Read More

Opponents of Governor Cuomo’s 2 percent property tax cap were able to stick one major exclusion into the legislation before it passed in 2011: a provision excluding a portion of local government and school employee pensions from the total allowable “levy limit” in years when taxpayer-funded employer contributions rise by more than two percentage points of salaries. Read More

President Obama’s proposed cap on itemized federal income tax deductions for state and local taxes would cost New York residents $3.8 billion a year, according to a report released by Governor Cuomo’s office today. However, you’ll have to dig a little to find that number: Obama isn’t mentioned until page 11 of the 26-page document. Read More

Empire Center Logo Enjoying our work? Sign up for email alerts on our latest news and research.
Together, we can make New York a better place to live and work!