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Article: FAILED STRATEGY; STATE SHOULD PULL PLUG ON EMPIRE ZONE PROGRAM.(Opinion)(Editorial)
- Article from:
- The Post-Standard (Syracuse, NY)
- Article date:
- June 26, 2009
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It's been about seven years since Albany first tried to fix a gaping hole in the Empire Zone law that allowed companies to grab millions of dollars in tax breaks without actually creating jobs.
The law allowed companies -- dubbed shirt-changers -- to simply reincorporate, claim their old employees as new workers and pocket millions of dollars.
Earlier this year, in its latest attempt at reform, the Legislature and the governor directed the Empire State Development Corp., the agency that runs the Empire Zone program, to kick the shirt-changers out of the $600 million-a-year program.
But it turns out that ESD's method of identifying ...