IDAs can assist ailing municipalities by encouraging the creation of new businesses or the retention of existing businesses. However, it is vitally important that the granting of tax exemptions for a project will generate an economic benefit in the form of well-paying jobs and/or future new revenues for local governments. In short, incentives should be coupled with performance. [read complete IDA report - pdf] | [view more IDA data here]
The City of Rochester projects large and growing budget gaps in its 2013-14 through 2017-18 fiscal years. Absent significant spending cuts or increasing revenues, the gaps could cause the City to exhaust its available fund balance within the next two fiscal years. [read complete City of Rochester report - pdf]
The City of Syracuse faces many of the same challenges as other upstate cities. However, a larger than average percentage of its property tax base is either exempt or delinquent and growing fixed costs in the budgets of the City and the dependent school district have created chronic budget gaps. [read complete City of Syracuse report - pdf]
OSC has developed a public fiscal stress monitoring system that will identify local governments and school districts that are in fiscal stress, as well as those showing susceptibility to fiscal stress.
[read complete Fiscal Stress Monitoring report - pdf]