Schenectady IDAs Score Well in New State Report
May 14, 2014, Schenectady, N.Y. — Both the Schenectady County Industrial Development Agency (IDA) and City IDA received solid rankings in the annual IDA performance report issued by State Comptroller Thomas P. DiNapoli. Both IDAs are administered by Metroplex as part of Schenectady County’s unified economic development team.
Among 55 counties that were scored in the report, the Schenectady County IDA ranked:
#1 for lowest administrative costs per job gained at $6.
#6 for net job change with 3,849 new jobs. In Upstate New York, Schenectady County ranked third for net job change behind Saratoga and Monroe County.
#11 for total jobs to be created, ranking 8th among Upstate counties.
#6 for net exemptions (total cost of incentives per job) at $497 per job created.
Among 54 city and town IDAs statewide, the City of Schenectady IDA ranked
#14 for lowest administrative costs at $94 per job gained.
#13 for net job change with 949 new jobs.
#11 for total jobs to be created, ranking 6th in Upstate.
#20 for net exemptions (total cost of incentives per job) at $3,093 per job created.
Schenectady County Metroplex Chair Ray Gillen said, “We thank the community volunteers on both the County and City IDAs for their service. These numbers show that we are producing results and keeping costs very low. We are especially proud of the fact that the County IDA scored the lowest expenses per job in New York State.”