Cuomo’s collapsing hi-tech upstate dreams

Thursday, 19 October 2017, 08:26:47 AM. It’s all about the ribbon-cutting. That seems to be Gov. Cuomo’s approach to Upstate’s economy — and he made sure he was front and center for Tuesday’s photo-op at a Plattsburgh plant opening. Too …
It’s all about the ribbon-cutting. That seems to be Gov. Cuomo’s approach to Upstate’s economy — and he made sure he was front and center for Tuesday’s photo-op at a Plattsburgh plant opening. Too bad Upstate’s job growth, which crept along at just half the nation’s rate for the first few years of Cuomo’s term, came to a near-total halt in 2016. Even as he has thrown billions at Upstate businesses. Take the Plattsburgh plant. The company, Norsk Titanium — which will 3-D print airplane parts — is one of the few high-tech manufacturing “success” stories to come from Cuomo’s strategy. Yet the state had to shell out $125 million to make it work. And Norsk has just 110 workers. That’s more than $1.1 million per job sucked from New Yorkers’ pockets. (Norsk says it’ll add another 100 jobs soon.) Other projects have fared worse: Last week we noted that the Central New York Film Hub, built with $15 million of state cash, never ginned up the promised 350 jobs and sits virtually empty. There’s the $600 million Cuomo spent for a plant for Ams AG, which pulled out. And $75 million for an all-but-empty facility in Greece. The whopper: a factory in Buffalo for SolarCity built using $750 million of taxpayers’ dough. Despite a planned start last summer, it’s only now hiring workers and its solar-panel business remains uncertain. Overseeing many of the disasters: SUNY Polytechnic Institute and its founding president, Alain Kaloyeros, who was indicted in a bid-rigging scandal last year. (The...Read more
Share this

You might also like

Similar