Subsidy Alert: November 2011
To learn how the Board of Directors voted on this project, see the agency "board books" here.
Public Notice for the November 3, 2011 NYCIDA Public Hearing
Please take a moment to look throught the project summaries below. GJNY will post the project materials and cost/benefit analyses when they become available, so please check back. We encourage anyone with concerns or comments about these proposals to participate in the hearing.
This month the IDA will be reviewing applications from the following project:
- Macy’s Inc., acting on behalf of Macy’s Merchandising Group, Inc. (formerly Federated Department Stores, Inc. acting on behalf of and solely for the benefit of Federated Merchandising Group), and its eligible affiliates, located on the 5th floor at 11 Penn Plaza, New York, New York. The financial assistance proposed to be conferred by the Agency will consist of exemption from City and State sales and use taxes. The financial assistance for this project was induced and authorized on February 8, 2000 and March 14, 2000, respectively. No new financial assistance is being provided.
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GJNY takes a close look at the proposed subsidy package--worth nearly $130 million--for Fresh Direct to relocate to the South Bronx. In early 2012, Fresh Direct started a bidding war between New York City and New Jersey officials when it threatened to leave its current home in Long Island City, Queens. Learn more about the subsidies, job promises and the efforts of residents to block the on-line grocery retailer's move to their waterfront.
As government aid begins to flow into areas devastated by Hurricane Sandy, Good Jobs New York will provide analysis and recommendations regarding these resources that promote a transparent and equitable allocation of funds that go to individuals and businesses that need it most.
Our database contains information on thousands of companies that received economic development subsidies in New York City.
Learn about major corporate giveaways to the financial industry, sports facilities and retail developments in New York City.