Tag: Economy

For several years now, Governor Andrew Cuomo has been misusing employment statistics to back up claims that his policies have ignited an economic resurgence in upstate New York. It happened yet again today, when the governor was in Binghamton to announce that Dick's Sporting Goods had decided to locate a 650,000 square foot distribution center in the Broome County Corporate Park. Read More

Zero. That was the seasonally adjusted annual rate of growth in New York State's economic output during the fourth quarter of 2015, according to preliminary Gross Domestic Product (GDP) data released today. Read More

From Albany to Buffalo, the New York governor’s clubby approach to economic development invites—and deserves—scrutiny. Read More

START-UP New York was launched in 2013. It's designed to provide incentives for young companies to start or expand their business on or near college campuses, and provides tax incentives to businesses. Read More

Statewide private sector employment in New York as of December was up just 1 percent over the same month a year earlier—less than half the national rate, and the lowest such growth rate in New York since the end of the recession in 2009, according to revised employment data released last week by the state Labor Department (DOL). The total year-to-year gain of just 76,500 private jobs was less than half the average recorded in each of the four previous Decembers since Governor Andrew Cuomo took office. Read More

New York has seldom seen an executive initiative as politically radical or economically reckless as Gov. Cuomo’s proposal for a $15-per-hour statewide minimum wage. Read More

One of New York State's highly touted high-tech "investments" just shorted out. General Electric announced today it is pulling the plug on its Durathon battery project, which is manufactured by a Schenectady-based subsidiary, GEMx Technologies. The project, which for a time employed more than 350 people, was awarded $12.5 million in "JOBS Now" capital funding from the state Empire State Development Corp. in 2013. Read More

Governor Andrew Cuomo wants New York to be become the first state in the nation to mandate a minimum wage of $15 an hour—more than double the federal minimum. Read More