Tired of broken promises? Find out about development subsidy accountability at DMI’s next Marketplace of Ideas Event
Here in New York few things get people as riled up as debates over government subsidies for private development projects (anyone remember the war over the Westside Stadium)? I'd hazard to guess that folks in other states get equally angry when corporations promise local government the moon in exchange for a subsidy then don't deliver on the economic development and new jobs that they promised. Well the good people of Minnesota had it up to here with their tax dollars going to subsidize promise-breaking corporations and so former Majority Leader of the MN State Senate, John Hottinger did something about it. He successfully fought to enact the country's first legislation to hold corporations accountable for the subsidies they receive. And so who else but DMI would bring him to NYC for a discussion about how other states can follow Minnesota's lead and hold corporations accountable for subsidies they get?
As Assemblyman and panelist Richard Brodsky has said, "with public money comes public responsibility... Why should hard-working taxpayers subsidize an employer who outsources jobs... We should use our limited corporate subsidies to reward employers who actually create New York jobs".
Here's your invite:
Senator Hottinger sponsored Minnesota's groundbreaking law instituting new standards of transparency and accountability for state and local economic development subsidies. The 1995 law and its subsequent enhancements required that companies who receive public subsidies but fail to reach job creation goals repay the subsidy with interest. The legislation also mandated increased corporate disclosure, wage standards for the jobs created, and public hearings before large subsidies could be granted. The law is credited with recouping millions of dollars in state funds and increasing civic engagement around issues of economic development. After serving sixteen years in the Minnesota State Senate, including a stint as Majority Leader, John Hottinger retired in 2006.
A panel discussion on the implications of Senator Hottinger's work to New York will feature:
Errol Louis, Columnist, New York Daily News
Hon. Richard Brodsky, New York State Assembly
Moderated by Andrea Batista Schlesinger, Executive Director of the Drum Major Institute for Public Policy
Monday September 18, 2006 8:00 - 10:30a.m.
The Harvard Club 27 West 44th Street (between 5th and 6th Avenues)
Elana Levin: Author Bio | Other Posts
Posted at 11:05 AM, Aug 17, 2006 in Cities | Community Development | Economy | Employment | Fiscal Responsibility | Government Accountability | Governmental Reform | Labor | New York | Politics | Progressive Agenda | States | Tax Policy
Permalink | Email to Friend