Tonawanda News

Local News

March 17, 2013

Niagara County IDA ranks second in total exemptions, outside New York City

(Continued)

Tonawanda News — Newly elected NCIDA Chairman Scott Kiedrowski issued a statement in response to questions about the budget office report, saying officials from the county agency are still reviewing its contents. 

“We agree with the statement from the New York State Economic Development Council that the report only looks at one half of the story and ignores the economic impact of the incentives provided by industrial development agencies as far as job retention and creation and investment,” Kiedrowski said. “The fact is that the Niagara County Industrial Development Agency is among the top performing economic development agencies in New York State as far as job creation during this timeframe, including the creation of approximately 375 new jobs in 2011 and 229 new jobs in 2010 as well as generation of tens of millions of dollars in capital investment.”

“The Niagara County Industrial Development Agency has been a catalyst in assisting companies to not only stay in the region but also to expand their operations as well as our efforts to bring in new investment,” he added. “We are proud of our work and look forward to continuing to help Niagara County grow and prosper.”

In addition to the county IDA, the report found the Town of Niagara IDA had $6.2 million in total exemptions during the four-year period, with total PILOTs paid of $3.95 million and total net exemptions of $2.27 million. 

The county’s other IDA, located in the Town of Lockport, reported $5.34 million in total exemptions, including $117,701 in total PILOTs paid and $5.22 million in total net exemptions. 

The state instituted PARIS in 2007 as a way to collect information related to the activities of public authorities in New York. The Authorities Budget Office has issued annual reports on IDA activity for years. 

Kidera said the multi-year analysis was intended to offer a longer-term perspective on IDA activities, noting that it is often the case where projects receiving tax breaks and other incentives do so under PILOTs extending out multiple years. 

Text Only
Local News