Data provided by NYS Comptroller’s Office
The Chautauqua County Industrial Development Agency provided nearly $75,000 in net tax exemption for every job created in 2022.
That’s according to data provided by State Comptroller Tom DiNapoli in his annual IDA report released in May. The report focused on the 106 different Industrial Development Agencies that operate across New York State, using data from the 2022 fiscal year. There are a total of 56 County IDAs in New York State, along with 53 IDAs being operated within various cities or villages.
In 2022, Chautauqua County had 46 projects at a total project value of $11,415,900. Those projects received a total tax exemption of $18.2 million. The estimated number of jobs to be created was 807 and 2,075 jobs were estimated to be retained. The ultimate net jobs gained were 219 in 2022.
Based on data in the Comptroller’s report, the Chautauqua County Industrial Development Agency provided $74,885 in net tax exemptions for each net job gained.
CCIDA CEO Mark Geise said in a statement to WRFA about the report that it, “…reaffirms what we already know – the CCIDA has been strongly committed to supporting local employers and investors who choose to do business in Chautauqua County, which in turn helps to not only sustain but also grow our local economy. As indicated in the report, for every dollar of net tax exemption provided by CCIDA in 2022, the related projects provided $86 in return investment. Given the fact many of these projects would not happen without these incentives, I believe it demonstrates a very positive cost/benefit ratio and strongly supports the activities of our IDA.”
Geise said that Chautauqua County also ranked second in Western New York IDAs when it came to the total value of projects supported, and was among the top four when it came to the combined total number of jobs created or retained.
Geise added that the report only focuses on tax exemptions in 2022 and, “…doesn’t include the various CCIDA loan programs we administer and which benefit our businesses and, in turn, our local economy. Nor does it include the efforts made by our affiliate agency – the Chautauqua Region Economic Development Corporation and its main initiative, the Chautauqua County Partnership for Economic Growth – which contracts with CCIDA to provide much of its staffing.”
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