I previously explained how the role of the Urban Development Corporation (UDC) evolved from slum clearance to business development, at one point adopting the identity NYLovesBiz.com.As the Buffalo News reported 2/2/95, new Governor George Pataki "has proposed sweeping changes that would consolidate the Department of Economic Development and Urban Development Corp. into a new agency, known as the Empire State Development Corp. Thirty initiatives will be abolished as a result."
New Mission Statement
Well, the agency no longer uses the phrase "New York Loves Business," but its Mission Statement and Performance Measures, adopted this past April and embedded below, state the following:
Mission StatementHearing on jobs needed
The mission of Empire State Development is to promote business investment and growth that leads to job creation and prosperous communities across New York State.
- Customers served: number and types (private, public, not-for-profit); size of entity by number of employees; MWB status
- Financing provided and leveraged: amounts of ESD support, other public support, private investment
- Jobs projected to be retained and created
- Regional and industry breakdowns of assistance, jobs retained and created, and leveraged investment
If that really is the mission, then shouldn't they be concerned about the number of jobs created by the Atlantic Yards project, and whether the help offered to get Forest City Ratner low-cost financing under the federal government's EB-5 program actually creates new jobs?
Maybe Brooklyn Assemblyman Jim Brennan, who now chairs the Corporation's Committee, can hold an oversight hearing and ask a few questions.
April 2011 ESDC Mission Statement and Performance Measures