Drawing on some of my reporting, Noticing New York's Michael D. D. White takes off from a story about fictional job creation nationally to dissect claims of job creation with Atlantic Yards:
In the case of Atlantic Yards we have two levels of AWOL government, each level with its own fictional job creation program that is not fulfilling its ostensible purpose: At the state level the ESDC (the āNew York State Urban Development Corporationā doing business as the āNew York State Urban Development Corporationā) does not monitor or pay attention to how many jobs are created at the megadevelopment and on the federal level (Congress again neglecting the declared core of a program) we have the non-job-creating EB5 program that we will get to in a minute. Perhaps what mightily facilitates the ease with which the EB-5 program is abused is that it is not known by any formal title, like the American Jobs Creation Act, leaving the New York Times to struggle as it refers to Ratnerās `enrollmentā of ā498 Asian investorsā in āan obscure federal program that grants [āsellsā is a better word] green cards in exchange for a $500,000 investment in a job-producing American project,ā thereby stumbling compliantly into having referred to `job-productionā which is, as discussed, actually nonexistent.More here, including a list of six specific problems.
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