The Daily Gazette
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Metroplex cites project revenues

Tax-cut incentives still help localities

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More than $9.2 million in revenue has been generated so far this year from 51 payment-in-lieu-of-taxes agreements administered by the Schenectady County Metroplex Development Authority, according to a report it issued Thursday. The revenues to local governments, school districts and the county have more than doubled from about $4.45 million since the last report was issued in February 2011. Revenue will continue to grow over the years, since PILOT payments typically increase in size with ...

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November 16, 2012
7:46 a.m.

[ Flag Post ]

How come Schenectady is broke can't pay it's school tax bill and the County unemployment rate is the highest in the Capital District?

November 16, 2012
7:56 a.m.

[ Flag Post ]

I don't get it. Payment in lieu of taxes? Why not pay taxes in lieu of "payments in lieu of taxes"? The only explanation I can think of is that these payments are less than what the taxes would be. So instead of revenue, this should be considered a loss in revenue.

November 16, 2012
8:06 a.m.

[ Flag Post ]

It is important to note that the people-directly or through the school boards or legislatures- have zero input into this corporate welfare. Metroplex cannot be held accountable for its actions by the people. It is corporate welfare because without the PILOTs these businesses would be paying more tax. The effectiveness in incentivizing businesses through PILOTs is suspect, because successful businesses do not make decisions based on temporary tax rates. PILOTs are welfare payments to businesses that increase the tax burden on the rest of the public.

November 16, 2012
9:57 a.m.

[ Flag Post ]

Why not post how much money Metroplex GAVE to these companies so that they could generate these PILOTS? The fact that those figures aren't presented would leave me to believe that they are still paying out a lot more than they are taking in. That doesn't even include those projects that have gone belly up.