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When New York Gov. Andrew Cuomo (D) introduced his “Start-Up New York” jobs initiative in 2013, he promised it would “supercharge” the Empire State Economy and create 4,100 new jobs by 2020. But in spite of the state spending tens of millions of dollars to promote the program nationwide, a report issued on July 1 by the agency that administers it revealed the initiative has so far produced only 408 jobs.
The program’s main job creation strategy has been to lure companies to New York with the simple promise of, “Move here, expand here or start a new business here and pay no taxes for 10 years.” But that effort has been slow to gain traction, with just 76 new jobs created in 2014 and 332 last year.
The data was clearly an embarrassment for the Cuomo administration. The Empire State Development Corporation released its findings late on July 1: three months later than originally scheduled, and the day before the long Fourth of July weekend. As the New York Times reports, the job creation numbers were seemingly buried in a set of footnotes 10 pages into the document.
Even so, Cuomo administration officials urged patience, saying the program is still on track to reach its 2020 goal. Start-Up New York Executive Vice President Leslie Whaley told the Times the program should grow rapidly now that its infrastructure is in place, adding that the agency would soon reveal a new set of participating companies.
“We’re going to continue to build off the momentum; we’re going to continue to admit more companies,” she said. “Success breeds success.” (NEW YORK TIMES, ALBANY TIMES-UNION)