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St. Lawrence County IDA more cost-effective than most in state, says state comptroller

Posted 7/12/11

St. Lawrence County's Industrial Development Agency is among the more cost-effective employment building and business development efforts in the state, according to report released today. But state …

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St. Lawrence County IDA more cost-effective than most in state, says state comptroller

Posted

St. Lawrence County's Industrial Development Agency is among the more cost-effective employment building and business development efforts in the state, according to report released today.

But state Comptroller Thomas P. DiNapoli's report says that, generally, the effectiveness of IDAs and local business development councils in the state remains "questionable."

A couple of measurements in the report place the St. Lawrence County IDA among the best performers.

St. Lawrence County's "cost per job gained" is $141, compared with, for instance, Oswego County's $17,977 and Greene County's $86,492, according to the report. 

A column labeled "Net Tax Exemptions" is a calculation of how much more a county has granted in tax exemptions to companies promising jobs over payments in lieu of taxes (PILOTs) companies have paid.

St. Lawrence County's net for 2009 was $97,560 more in exemptions than PILOTs.

That is based on 23 projects during the reporting period, a lower level of activity than most counties.

The full report public is on the comptroller's web site at www.osc.state.ny.us/localgov/pubs/research/idaperformance2011.pdf