In 2010, the 114 active IDAs located throughout the State supported 4,444 projects and provided total tax exemptions of nearly $1.3 billion.

Often, the required reports that industrial development agencies (IDAs) submit to OSC and other agencies are incomplete and inconsistent. Recent audits by OSC have found a lack of documented cost-benefit analysis, lack of recapture clauses in many project agreements and insufficient tracking of projects and their incentives.

IDAs can assist ailing municipalities by encouraging the creation of new businesses or the retention of existing businesses. However, it is vitally important that the granting of tax exemptions for a project will generate an economic benefit in the form of well-paying jobs and/or future new revenues for local governments. In short, incentives should be coupled with performance.

IDAs are important for economic development in the State, but local officials need to improve their scrutiny over projects so that taxpayers know if their community is receiving promised jobs and economic benefits. Recent audits have found deficiencies in IDA processes for approving and monitoring projects, as well as for recouping benefits from projects that have failed to meet their goals.

In 2015, the State’s 109 active Industrial Development Agencies reported projects valued at $88.7 billion, with nearly $700 million in net annual tax exemptions and $11.4 billion in total debt outstanding, including conduit and other debt. They supported 4,484 projects that had created 224,734 jobs from their inception through 2015.

In 2016, the State’s 109 active Industrial Development Agencies reported projects valued at $95.6 billion, with nearly $715 million in net annual tax exemptions and $10.0 billion in total debt outstanding, including conduit and other debt. They supported 4,451 projects that had created 208,707 jobs from their inception through 2016. | Interactive Map

This 2017 Annual Report on Local Governments provides a summary analysis of the financial state of the local governments outside of New York City for local fiscal years ending in 2016.

This Annual Report seeks to highlight some of the year’s important policy developments and trends for local governments.

The 2015 Annual Report on New York State’s local governments describes the revenue and expenditure trends affecting our counties, cities, towns, villages and school districts, and highlights some of the work the Office of the State Comptroller (OSC) is doing in the areas of policy research, auditing and training.

This report provides you with a summary of trends in local government revenues and spending. It also offers the opportunity to reflect upon major local policy developments that occurred in 2014, as well as to highlight the important work that we have done and will continue to do here at the Office of the State Comptroller (OSC).