//
archives

NYS

This tag is associated with 10 posts

Corporate Welfare is Receiving Some Necessary Scrutiny

(NYS) Recent analysis [pdf] of NYS subsidies to business in the form of tax credits and other give-aways of public money is gathering attention among tax-policy specialists and a highly acclaimed journalist from WNY. This analysis continues a decades-long trend showing that only very little or no benefit can be rightfully attributed to corporate welfare. … Continue reading

Update – the Empire State Manufacturing Survey

(NYS) The Federal Reserve Bank of New York (FRB-NY) released its monthly report [pdf] about results from the Empire State Manufacturing Survey on November 15. Their analysis shows that overall manufacturing conditions in NYS have weakened – the current general index is in fact negative, where a negative reading indicates worsening business conditions. The weakening … Continue reading

NYS Economy Can Save Over $9 Billion Each Year

(Analysis) As NYS citizens collectively make do with less because the private sector is incapable of delivering either full employment or the economy’s potential for output, and government officials refuse to stimulate the economy in order to reach either mark, here’s one way we can collectively clear an estimated $9 billion per year: set up … Continue reading

Tough Love from Governor to Local Governments in upstate NY

(NYS) Governor Andrew Cuomo (D-NY) delivered a tough message to local governments in upstate NY during a televised meeting in Albany. Stating bluntly that many local governments have been functionally insolvent for many years, Cuomo highlighted his administration’s push to restructure financially-distressed localities through a financial restructuring group. NYS Budget Director Robert Megna offered some … Continue reading

NYS Manufacturing Slows as Federal Stimulus Wanes

(NYS) The monthly survey of manufacturers released by the Federal Reserve Bank of New York (FRB NY) on Apr. 15 shows that while the positive level for the general conditions index indicates manufacturing growth, there is a noticeable trend in the index – downwards, as federal stimulus spending recedes. Per the FRB NY: “The headline … Continue reading

Niagara River Greenway Runs Off Course – Spills Funding Far From River’s Bank

(Buffalo, NY) A local non-profit organization called Partnership for the Public Good critiques how a government-sponsored entity, the Niagara River Greenway Commission, is approving projects. Interpreting its mandate to promote green space along the river very broadly, the commission is currently approving projects as far away from the Niagara River as Wilson, Newfane, and Lockport … Continue reading

Buffalo Bills Deal Proves Politics Never Change

(Buffalo, NY) In ancient times, aspiring politicians in Rome would sponsor elaborate games with gladiators to entertain the city’s residents in an effort to win favor and votes. Fast forward a couple thousand years and you find the same behavior on display – local and state politicians here have agreed to fund a $271 million … Continue reading

Sclerotic Growth of Nonfarm Payrolls in Upstate NY

(NYS) Statistics released by government agencies show growth of employees on nonfarm payrolls through Feb. 2013 in NYS lags reported growth for the country as a whole (see chart). Only 1 metro region in NYS is better than the nation’s average – Ithaca, and growth of nonfarm employment there is largely because of the Ivy … Continue reading

Local Governments in NYS Face Longterm Fiscal Crisis

(NYS) Emphasis during a week-long conference at the Rockefeller Institute of SUNY Albany is on structural, rather than cyclical, budget imbalances. While the revenue effects from the 2008-9 recession are still being felt by many local governments – especially here in upstate NY, longterm projections of spending by local governments far outstrip projections for their … Continue reading

NYS gets a Black Eye from the Feds

(NYS) Federal prosecutors produced a series of arrest warrants for state and local politicians from both parties in the last weeks.1 Apparently unable to internally police reportedly widespread corruption among state legislators, NYS has been the target of federal investigations into what has been called a “pay to play” culture in Albany – where politicians … Continue reading