ARRESTS SOUGHT IN BROOME CORPORATE WELFARE CASEPosted: February 3, 2013
By A. E. Neuman
Will somebody please arrest and prosecute the local corporations that have cheated the rest of us out of tax revenues? Their cheating and immoral behavior has placed a bigger tax burden on all the rest of us. They are accused of collecting a combined total of $101.4 million in inappropriate tax breaks over a period of 10 years. The result of their indiscretions has left the county and many of the municipalities in dire financial shape.
HURON REAL ESTATE ASSOCIATES (Old IBM) – Put together by the Broome County Rich Families Group in 2002 for the alleged purpose of saving local jobs and actually adding more has done neither, even though they robbed our local and county as well as state coffers of millions of dollars in “blood money.” Getting huge tax breaks for 10 years their clever lawyers found a way to now lower their assessed value from $150 million to $17 million claiming the property in Endicott has lost value in 10 years. Really?! The property is now nearly fully tenanted and obviously worth more than it was back in ’02!! Result? Residential and small business owners will now pay an average of over $400 more in local property and school taxes. HOW DO THESE GUYS SLEEP AT NIGHT??
EIT CORPORATION –A tenant of Huron Campus. Cobbled together by a local state senator and members of the BC Local Rich Families in the late 90’s totally ignoring a valid plan to take what was IBM Endicott into an employee owned venture (after the employee group had broached that idea with the senator) this outfit has not only not met their required job creation promise but has in fact outsourced local jobs by setting up a factory overseas to make their product. Result More than $29 million dollars in tax credits that individual taxpayers now have to make up! DOES ANYONE HERE HAVE MORALS?!
BAE CORPORATION – A British defense contracting firm headquartered in London. They were graciously awarded a sweetheart deal to become a tenant at Huron Campus after their facility in Johnson City was flooded out in 2011. BAE has never paid property taxes for their profitable existence in Broome County. They make billions in profit each year. NICE! (for them!)
Here’s a bunch more: Gannett Publishing … You know, the Binghamton Press owners. $5.4 million …University Plaza …$3.1 million … Maines .. $5.8 million … Good Shepherd … $60.6 million … Stellar 83 $4.4 million … Washington $7.8 million
Now you know part of the reason you pay more in taxes each year.