Tag: IDAs

Jul 24

2024

A changing of the guard for STAMP

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Mark Masse, incoming president of the Genesee County Economic Development Center. Illustration by Garrett Looker. Effective August 1, Mark Masse will take over as president and CEO of the Genesee County Economic Development Center — the public agency building the STAMP industrial park. Hailing from Genesee County, Masse earned a public accounting degree from Nazareth University and has worked for the IDA since 2010 as its vice president of operations. He takes over for Steven Hyde, the longtime president and CEO who initiated STAMP’s development. He’ll earn a salary of $185,000 and manage an agency with a $10.5 million budget.[...]

Posted 3 months ago

Jul 23

2024

STAMP struggling to fill rural industrial park

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Two companies are backing away from plans to move into the sprawling Science, Technology and Advanced Manufacturing Park in Genesee County, Investigative Post has learned. Scannell Properties, a multinational builder, will no longer construct three large warehouse-like buildings at the industrial park, according to a June email from the Genesee County Economic Development Center, the industrial development agency building STAMP. In addition, an unnamed company — whose proposed development was called “Project Emporium” — will no longer construct a campus of buildings, including large data centers and office buildings. Scannell Properties had signed a “right of first refusal” contract for[...]

Posted 3 months ago

Jun 12

2024

A mixed bag on IDA reform in Albany

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New York State Sen. Sean Ryan.  The push to reform New York’s industrial development agencies gained significant momentum this year, but not enough to net a serious win for the coalition of labor unions, teachers and good government groups backing the effort. Smaller measures, however, did make it over the finish line, including one expanding representation on IDA boards and another increasing transparency over agency projects. “The momentum is building and we’re going to continue to build that momentum,” said state Sen. Sean Ryan of Buffalo. “But the community itself is building it.” IDAs, of which there are 107 across[...]

Posted 4 months ago

Dec 28

2023

J. Dale Shoemaker’s subsidy reporting

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Another year coming to a close. Another 525,600 minutes (almost) expired. As Jonathan Larson asked three decades ago: How do you measure a year? It’s an especially tough question for a reporter like myself who writes about the economy and economic development. There’s any number of metrics — interest rates are up, now steadying; inflation is up, now slowly coming down; wages are up slightly; so is rent — but all of those numbers tend to miss the big picture. Are we in a recession? Or is the economy doing great and we’re just in a “vibe-secession,” caused by our[...]

Posted 10 months ago

Nov 6

2023

Hochul doubles down on a mistake

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Putting a huge industrial park in rural Genesee County was a mistake to begin with. The site was too rural. It lacked infrastructure. Auto dependent. That was the conclusion of a smart-growth analysis mandated by state law. State economic development officials used a loophole to green light the location anyway, and Steve Hyde and his Genesee County Economic Development Center went to work, thanks to some $43 million in state assistance. For nearly a decade, progress was slow. The site, known as STAMP, or Science Technology and Advanced Manufacturing Park, remained fields and farmland. No tenants were to be had.[...]

Posted 12 months ago

Sep 14

2023

Lockport IDA subsidies likely despite AI fake

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In July, a plastics manufacturer gave the Lockport Industrial Development Agency a fake study generated by artificial intelligence to support its request for subsidies. Thursday, the IDA signaled that it’s prepared to give the company $312,000 in tax breaks anyway. Two months ago, SRI CV Plastics gave the IDA’s board of directors an abstract and citation for a study that purported to show the safety and benefits of PVC pipes, which the company wanted to manufacture. A group of 48 environmental groups are protesting the project, arguing that a public agency in New York should not be subsidizing a plastics[...]

Posted 1 year ago

Aug 3

2023

No more free golf for Chautauqua IDA

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The Chautauqua County Industrial Development Agency has agreed to make changes to the way it operates after a scathing state review in May found “inappropriate and questionable” spending at the economic development outfit. Those changes, however, come with some consternation from the IDA. While it told state officials it would curtail some of its spending and review some of its policies, it vigorously defended other practices the state Authorities Budget Office critiqued, arguing the agency can’t force it to change.  The IDA, for example, will no longer reimburse an executive for a country club membership where he played golf with[...]

Posted 1 year ago

Jul 13

2023

Company seeking subsidies circulates fake study

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A plastics manufacturer seeking tax breaks to build a plant in Lockport has put its application on hold after being called out Thursday for circulating a summary of a study that was fabricated and produced by artificial intelligence. Prior to a public hearing Thursday, the India-based firm SRI CV Plastics, seeking $312,000 in subsidies from the Lockport Industrial Development Agency, provided the agency’s board a one-page summary of a study that touted the safety of PVC pipes, one of the products the company plans to make at the plant. A University at Buffalo professor, Lourdes Vera, called out the company’s[...]

Posted 1 year ago
Investigative Post