Authorities Budget Office - Local Authorities Economic Development Database
The Local Authorities Economic Development Database is a new searchable platform to analyze and visualize data. This database increases the transparency of local authorities' activities. Published by the ABO, this database is comprised of Industrial Development Agency (IDA) and Local Development Corporation (LDC) projects receiving financial incentives. The database contains: IDA projects, LDC projects, a Map, and an Appendix.
The database is compiled from information submitted by local authorities in their annual reports to the ABO in the Public Authorities Reporting Information System (PARIS). There are times that the authorities may revise and resubmit data for prior reporting periods to correct any errors identified. These revisions are generally limited to the most recent reporting period.
The database will be updated annually. As a result, data revised and resubmitted by an authority between updates may not be reflected. All information is as reported by the local authorities in PARIS. The ABO has not confirmed the accuracy of the information.
The data is searchable, and provides interactive updates to the visualized data as the user applies filters and navigates the available drop-down menus. Additional resources, including a data dictionary, are also provided. This database will be updated annually, in conjunction with OPEN NY.
Industrial Development Agency Data:
Title 1, Section 2(2) (c) of Public Authorities Law defines a local industrial development agency or authority as a local authority. Industrial development agencies (IDA) are public benefit corporations created in statute; they are established by a special act of the legislature for a municipality. Pursuant to Section 858 of the General Municipal Law, IDAs are established to promote, develop, encourage and assist in the acquisition, construction, reconstruction, improvement, maintenance, equipping and furnishing of industrial, manufacturing, warehousing, commercial, research and recreation facilities. An IDA may engage in such activity for the purpose of advancing employment opportunities, attracting new business or retaining existing employers, and promoting the general prosperity and economic welfare of the State’s residents. In furtherance of this purpose, an IDA may acquire, improve, construct, lease and dispose of real property, borrow money and issue debt, enter into contracts, and provide financial assistance to eligible projects in the form of proceeds from bonds issued by the agency or exemptions from sales, mortgage recording, and property taxes. The datasets provided are compiled from information submitted by IDAs in their annual reports to the ABO in the Public Authorities Reporting Information System (PARIS).
Local Development Corporation Data:
Title 1, Section 2(2) (b) of Public Authorities Law defines a not-for-profit corporation affiliated with, sponsored by, or created by a county, city, town or village government as a local authority. The Authorities Budget Office uses the general term “local development corporation” (LDC) to include all not-for-profit corporations that meet the definition of a local authority. Generally, most LDC’s have the power to borrow money and issue debt, and provide certain forms of financial assistance, such as grants, loans and bonds, in support of public purposes, primarily economic development projects. The datasets provided are compiled from information submitted by LDCs in their annual reports to the ABO in the Public Authorities Reporting Information System (PARIS).
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