The Citizens Budget Commission is recommending that the state tighten up oversight of Industrial Development Agencies (IDA)s and Local Development Corporations (LDCs) and eliminate redundancy and duplication.
Six of the 62 counties have more than 10 LDCs and IDAs combined. The report states that the Capital Region has 21 IDAs and 27 LDCs.
It recommends that the IDAs be consolidated into a multicounty IDA for each of the state’s 10 Regional Economic Development Councils. It also wants to step up the enforcement powers of the Authorities and Budget Office to allow it to assess fines, suspend directors and curtail activities of certain authorities that are not complying with state law. Other suggestions are for ABOs to verify job creation data for large economic development projects, for the state comptroller to have the authority to audit LDC and for standardization of reporting for IDA and LDCs.
The commission is a nonpartisan organization seeking to make changes in the finances of New York City and New York state.
Since I have taken over the beat, I have tried to become familiar with the various economic development agencies such as EDC Warren County, the Glens Falls IDA, the Warren County IDA, the Glens Falls Local Development Corporation and the Glens Falls Urban Renewal Agency. It gets a little difficult to keep them all straight.