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NYC's Subsidy Disclosure Report Fact Sheet

Scroll down for the 2003 Recipient List

What is the Local Law 69 Report? The LL69 Report is the city's annual report on economic development deals. The report is required by New York City Council Local Law 69, which was passed in 1993.

Which subsidies are covered? The law applies to companies that have received economic development assistance from the NYC Economic Development Corporation (EDC) or the Industrial Development Agency (IDA). The companies in the report have received at least $250,000 worth of assistance or have promised to create or retain at least 25 jobs. 

The law requires reporting for seven years after a deal has been signed. The list of deals below was compiled from the LL69 report of Fiscal Year 2003 (July 2002 - June 2003), so it contains companies that have received assistance any time between 1996 and 2003.             

What information is included in the report? The full report contains forms on each subsidy deal including: 

• Company name
• Address and block and lot number of primary subsidized site
• Jobs to be retained, jobs projected to be created
• City revenues estimated to have resulted from the project and
• City assistance provided in each reporting year, broken down by subsidy type. (For explanations of various types of subsidies, including sales tax exemptions, mortgage recording fee waivers, and energy benefits, visit our glossary page.)
• Most forms also include the number of jobs the company reports actually having in a given year 

How can I get a copy of the full report? The full report is not yet available online. To get a hard copy of the report, you can file a Freedom of Information Law (FOIL) request with the New York City Industrial Development Agency. GJNY also maintains copies of the report. Call for an appointment to view documents (212-414-9394).

Why aren't subsidy amounts and current job figures included here? Because of inconsistency and occasional inaccuracy in the subsidy amount and job number figures, GJNY chose not to include them here. For more on the challenges posed by the LL69 report, read GJNY's February 2004 publication, "Know When to Fold 'Em" or a June 2001 report from the NYC Independent Budget Office called "Full Disclosure? Assessing City Reporting on Business Retention Deals." (No direct link available. Search under Publications.)

Companies included in the LL69 Report for FY 2003: