[CPEO-BIF] New York "Brownfield program creates economic opportunities"

[Lenny Siegel <lsiegel@cpeo.org>]

Brownfield program creates economic opportunities

Opinion by Damon J. Hemmerdinge
Albany Times Union  (NY)
June 25, 2013

The State Comptroller's Office continues to spread misconceptions  
about New York's best tool for jobs creation and capital by  
criticizing the state's brownfield program without a proper cost  
analysis and by focusing on projects before the 2008 reforms.

Reclaiming former industrial sites for 21st-century use advances  
environmental stewardship and smart growth. As reformed in 2008, the  
Brownfield Cleanup Program is effective at attracting developers to  
clean up others' contaminated property and generate new tax revenues  
that pay back the tax credits.

Comptroller Tom DiNapoli failed to weigh the revenues these projects  
will generate against the cost. A review of Department of Taxation  
and Finance reports confirms the $852 million invested by the state  
from 2007 through 2011 generated $5.97 billion in investment, a ratio  
of $7.01 of private sector for each $1 of state investment.

...

For the entire column, see
http://www.timesunion.com/opinion/article/Brownfield-program-creates- 
economic-opportunities-4621397.php

--

Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org

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