Regional Development

NY comptroller reports IDA job gains

ALBANY — The state comptroller says New York's industrial development agencies supported almost 4,500 projects in 2011, providing $560 million in net tax exemptions while helping add an estimated 36,000 jobs.

Comptroller Thomas DiNapoli says IDAs have improved data reporting but should more objectively measure tax incentives against economic benefits.

His report found 113 active IDAs provided $1.5 billion in total tax exemptions in 2011, with local property taxes accounting for $680 million and school property tax breaks $439 million.

Exemptions were offset by $917 million of payments-in-lieu of taxes.

In 2011, IDA projects reported 701,169 full-time equivalent positions altogether.

That shows an increase of almost 218,000 jobs over the life of the projects, at an average cost of $2,575 per job gained.

That's up from up from about 182,000 jobs gained by 2010.

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