Poll: Is New York’s economic development strategy working?

Andrew Cuomo makes a statement on SALT Taxes
Andrew Cuomo makes a statement on SALT Taxes
Darren McGee/Office of the Governor
Gov. Andrew Cuomo.

Poll: Is New York’s economic development strategy working?

Amazon’s HQ2 controversy has drawn attention to state policies – and proposed changes.
February 25, 2019

Amazon has dropped its plans for a major headquarters in Long Island City, Queens, but the tech giant’s abrupt exit hasn’t ended the debate about the state’s economic development policies.

Taken in tandem with the dismal job creation numbers at Buffalo’s RiverBend complex, a state project that received $750 million from the state but has created only around 700 jobs so far, there are growing concerns about the state’s efforts to attract companies and spur economic growth.

Some observers have proposed legislative changes, such as increasing transparency and banning company-specific subsidies. Some have scrutinized the state’s Excelsior Jobs Program, which would have provided the bulk of the Amazon’s subsidies. Others have called to simply end corporate subsidies entirely, and still others say the best course of action would be to work on lowering taxes and easing regulatory burdens to attract business.

This week, we’re asking our readers to weigh in on what’s working and what – if anything – should be done differently.

Amazon’s decision to drop its HQ2 plan in Queens was:

Bad for New York
58%
Good for New York
34%
A missed opportunity to come to a good agreement
1%
A rushed and opaque "pronouncement" killed what could have been a positive deal for EVERYONE.
1%
Not sure exactly
1%
With a robust community benefits agreement reinforced by strengthened rent regulation in NYC, it could have been a win for NYC.
1%
Something else (select and write-in)
9%

What should New York do differently in regards to economic development?

Improve the tax and regulatory climate
30%
All of the above
26%
Be more transparent
18%
Ban company-specific subsidies
10%
Eliminate the Excelsior Jobs Program
6%
Emphasize geographical advantages that state has such as abundent water and proximity to ports
1%
Focus on building shared wealth rather than just "job creation." The wealth gap is much wider than the employment gap.
1%
Focus on public ownership
1%
Invest in small businesses and local economies
1%
Protect and incubate small businesses.
1%
Support existing industries where jobs already exist, but we need to invest in QUALITY jobs like, home care
1%
Something else (select and write-in)
5%
None of the above
4%
City & State
20190821