Madmallard
.223 Rem
‘It’s been a bad 50 years” for the Upstate economy, Gov. Cuomo argued this week. “You’re not going to turn it around in a couple of years.” Still, he insists, he has “changed the overall trajectory” of the area’s economy. Yeah — downward.
As two New York Fed analysts reported this month, Upstate job growth since early 2010 remained “sluggish,” at just 0.6 percent a year through early 2016. That’s less than half the nation’s 1.6 percent rate.
Yes, Cuomo has thrown billions of taxpayer funds at “economic-development” projects and at select companies. But those bucks have yet to bear much fruit.
The gov calls Buffalo “a national turnaround story,” for instance — yet the city hasn’t seen any job growth for nearly two years, though Cuomo has shelled out more than $1 billion to jump-start its economy.
Instead, the biggest thing Cuomo’s Buffalo Billion has spawned is a massive corruption case. Meanwhile, Rochester has actually lost jobs since early 2016.
Cuomo can offer any excuse he wants. But unless he changes course, don’t expect any improvement.
The report noted that the region’s growth has generally lagged the nation’s “for decades.” But since early last year, growth fell a whopping 50 percent, to a “paltry” 0.3 percent. “Only a handful of jobs” were added since then, the analysts report — even as “the United States continued to add jobs at a steady pace.”
The governor’s approach to Upstate’s economy has been extremely effective . . . at killing jobs and investment.
His ban on fracking shattered the dreams of countless landowners and job-seekers. His nixing of gas pipelines told businesses energy costs would remain sky-high.
His steep minimum-wage hikes made it harder to hire low-skilled workers. And his tax spikes and refusal to lighten the state’s regulatory burden (among the nation’s heaviest) convinced investors they’d be better off in almost any other state.
http://nypost.com/2017/10/27/cuomos-sad-excuse-on-upstate/
As two New York Fed analysts reported this month, Upstate job growth since early 2010 remained “sluggish,” at just 0.6 percent a year through early 2016. That’s less than half the nation’s 1.6 percent rate.
Yes, Cuomo has thrown billions of taxpayer funds at “economic-development” projects and at select companies. But those bucks have yet to bear much fruit.
The gov calls Buffalo “a national turnaround story,” for instance — yet the city hasn’t seen any job growth for nearly two years, though Cuomo has shelled out more than $1 billion to jump-start its economy.
Instead, the biggest thing Cuomo’s Buffalo Billion has spawned is a massive corruption case. Meanwhile, Rochester has actually lost jobs since early 2016.
Cuomo can offer any excuse he wants. But unless he changes course, don’t expect any improvement.
The report noted that the region’s growth has generally lagged the nation’s “for decades.” But since early last year, growth fell a whopping 50 percent, to a “paltry” 0.3 percent. “Only a handful of jobs” were added since then, the analysts report — even as “the United States continued to add jobs at a steady pace.”
The governor’s approach to Upstate’s economy has been extremely effective . . . at killing jobs and investment.
His ban on fracking shattered the dreams of countless landowners and job-seekers. His nixing of gas pipelines told businesses energy costs would remain sky-high.
His steep minimum-wage hikes made it harder to hire low-skilled workers. And his tax spikes and refusal to lighten the state’s regulatory burden (among the nation’s heaviest) convinced investors they’d be better off in almost any other state.
http://nypost.com/2017/10/27/cuomos-sad-excuse-on-upstate/
