Empire State chief to Sen. Krueger: Hold your horses
Empire State Development Corp. President and CEO Ken Adams is advising state Sen. Liz Krueger, D-Manhattan, to hold on to her horses.
In response to a letter she wrote to Adams and Gov. Andrew Cuomo on Monday, which laid out her concerns about restoring Empire Zone tax credits, Adams urges Krueger to get her facts straight before she criticizes the state's economic development plans.
"ESDC is not restoring Empire Zone tax credits to businesses that were decertified in 2009, nor has this process been conducted in secret," he wrote in a letter that was sent on Tuesday.
The possible restoration of the credits, according to Adams, sprung from a review prompted by pending litigation. Since 2009, some of the companies that were decertified have sued to challenge the decertifications.
"The Cuomo Administration has been clear that it views the Empire Zone program as a waste of taxpayer dollars and we moved aggressively to eliminate the program," he added.
The ESDC board is supposed to review these credits on Friday, with a unanimous vote required for reauthorization, according to an ESDC spokesman.
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Read the letter from Adams in its entirety below:
Ken Adams Responds to Krueger