billions – remember that last post?

http://www.nytimes.com/interactive/2012/12/01/us/government-incentives.html?smid=tw-nytimes#NY

New York

New York spends at least $4.06 billion per year on incentive programs, according to the most recent data available. That is roughly:

  • $210 per capita
  • 7¢ per dollar of state budget
  1. Grants to Companies (52,132)
  2. State Programs (35)
Amount Company No. of grants Types Town, city or county Years
$157 million JP Morgan Chase

Industrial Development Agencies,
NYC: Commercial Growth Project
12 Property tax abatement new york,
brooklyn,
new york city,
manhattan
1989-2009
$143 million Norampac Unit (Cascades)

Empire Zones,
Industrial Development Agencies
12 Corporate income tax credit, rebate or reduction,
Enterprise zone,
Property tax abatement,
niagara falls 2003-2011
$139 million Athens Generating Co LLP

Industrial Development Agencies
6 Property tax abatement athens 2004-2009
$138 million Cappelli (LC Main LLC)

Brownfield Cleanup Program Tax Credit,
Industrial Development Agencies
8 Corporate income tax credit, rebate or reduction,
Property tax abatement,
white plains 2004-2009
$131 million Fresh Direct

Industrial Development Agencies,
NYC: Industrial Incentive Program
9 Corporate income tax credit, rebate or reduction,
Property tax abatement,
bronx 1999-2012
$117 million Sithe Energies, Inc.

Industrial Development Agencies
12 Property tax abatement oswego,
new york
2003-2009
$117 million Huron Real Estate Associates LLC

Industrial Development Agencies,
Empire Zones
8 Property tax abatement,
Enterprise zone,
endicott 2003-2008
$102 million Yankee Stadium LLC

Industrial Development Agencies,
NYC: Commercial Growth Project
3 Property tax abatement new york city,
bronx
2006-2008
$88.7 million Queens Ballpark Company, L.L.C.

Industrial Development Agencies,
NYC: Commercial Growth Project
3 Property tax abatement flushing,
new york city,
queens
2006-2008
$65.6 million IBM

Empire Zones,
Industrial Development Agencies
21 Enterprise zone,
Property tax abatement,
armonk,
rochester,
warwick
2003-2009
$62.1 million Avon Products

Industrial Development Agencies,
NYC: Commercial Growth Project
22 Property tax abatement new york,
rye,
suffern,
new york city
1996-2009
$61.4 million Avalon Bay Communities, Inc.

Brownfield Cleanup Program Tax Credit,
Industrial Development Agencies
22 Corporate income tax credit, rebate or reduction,
Property tax abatement,
long island city,
new rochelle,
queens/nyc,
new york,
melville,
glen cove
And 1 more
2003-2009
$58.7 million Morgan Stanley & Co.

NYC: Commercial Growth Project,
NYC: Job Creation and Retention Program,
Industrial Development Agencies
5 Property tax abatement,
Cash grant, loan or loan guarantee,
new york 1993-2009
$57 million Carousel Center Co. L.P.

Industrial Development Agencies,
Empire Zones
10 Property tax abatement,
Enterprise zone,
syracuse 2003-2009
$53.7 million Oppenheimer & Co Inc.

Industrial Development Agencies
7 Property tax abatement,
Cash grant, loan or loan guarantee,
nyc 2003-2011
$51.6 million American International Group, Inc. (AIG)

NYC: Commercial Growth Project
3 Property tax abatement,
Sales tax refund, exemptions or other sales tax discounts,
Cut-rate electricity,
1997-2011
$50.4 million Credit Suisse

Industrial Development Agencies,
NYC: Commercial Growth Project
8 Property tax abatement new york,
new york city
1995-2009
$49.4 million Bank of America

Industrial Development Agencies,
NYC: Commercial Growth Project
10 Property tax abatement new york city,
utica,
new york
1997-2008
$48 million General Motors

Industrial Development Agencies
31 Property tax abatement,
Cash grant, loan or loan guarantee,
tonawanda,
rochester
2003-2011
$47.2 million Dermot Clinton Green, LLC

Brownfield Cleanup Program Tax Credit
3 Corporate income tax credit, rebate or reduction manhattan 2007-2009
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Sources: State agencies, government reports, Investment Consulting Associates, Good Jobs First, company financial filings, Equilar.
State budget figures from Center on Budget and Policy Priorities and the National Association of State Budget Officers. Learn about the database methodology.

By LOUISE STORY and TIFF FEHR
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