We Can’t Get Screwed by the BCIDA Anymore…They’ve Changed Their NamePosted: August 3, 2015
by Dave Duncan
The Broome County Industrial Development Agency was established almost 50 years ago to be the leading public organization for the creation of jobs in Broome County. In this role they, and the County officials that have sat on the Board of the BCIDA, have unapologetically served the interests of the rich and powerful of our community. While providing hundreds of millions in property and taxes and more millions in mortgage recording fees and tax free bonds to the wealthy who can buy the bonds, the BCIDA never delivered on the jobs promised. This organization’s failure is one of the principle reasons why Broome County is in such dire straits today.
NYS Questions the Values?
NYS Comptroller Thomas DiNapoli has continually questioned the value of the Industrial Development agencies. What jobs are created and at what cost, asks DiNapoli? He gets no answers. The BCIDA does not keep track of those minor details. As long as the corporations get their subsidies from the taxpayers and the banks can profit by selling the bonds, all in the Broome County government are happy.
The Public has caught on to the BCIDA
We have recently witnessed the resignation of the Broome County Executive and members of the Legislature from the BCIDA Board of Directors. Our elected officials no longer want to be held responsible for the activities of the group because it has become too easy to associate the official with being bought off by the rich.
New Name/SAME PRODUCT
Any business that has a good track record keeps its name because the product delivered has created a positive association with the public who pays for that product. Brand names are important. But when the public no longer trusts the brand, it is time to change the name and hope you can continue to pull the wool over the people’s eyes. To this end the BCIDA has paid a marketing firm $60,000 to create a “new image”. Now the BCIDA is now called “The Agency,” a fittingly vague name for a purposely shadowy entity.
Same Old Results
The average people of Broome County will now be getting screwed by “The Agency.” The rich and powerful interests will still be getting their benefits. Most people will continue to get nothing unless we change the system.