NYC Discretionary Economic Deals
NYC's Independent Budget Office has released a study, Who, What, Where, When?: Tracking the City’s Discretionary Economic Development Deals, which looks at
the distribution of subsidy deals involving bond financing and other discretionary benefits across industries, boroughs, and Mayoral administrations. Among the findings in the report requested by Public Advocate Bill de Blasio: More than half of the 1,098 projects included in our review are in Brooklyn and Queens, and more than a quarter of the total are manufacturing-related projects. But the projects benefitting business primarily located in Manhattan—finance, information, professional services, and consulting—account for more than half the value of all projects throughout the city. Our analysis is based on the annual reports that the Economic Development Corporation has been required to issue under Local Laws 69 and 48 since fiscal year 1994.