Empire State Development has launched a database of economic incentives. The database is an accessible, searchable catalog of ESD’s economic development projects that is designed to increase transparency into projects that receive the organization’s financial support.
“The Database of Economic Incentives provides the public with the most comprehensive index of economic development projects undertaken by ESD to move New York’s economy forward,” said ESD Acting Commissioner and President and CEO-designate Eric Gertler. “The full-service platform, in a centralized portal, contains thousands of data points enabling New Yorkers to know more about the work of our agency and our commitment to public transparency.”
The database includes comprehensive information on ESD loan, grant and tax credit incentive projects that support infrastructure, innovation, place-making and revitalization, tradable sectors and workforce developments, officials noted. The database will be updated quarterly and includes instructional materials to help users navigate the platform.
Each project includes information such as the project’s location, recipient of the incentives, the type and amount of assistance awarded and the progress and compliance status of any job or investment commitments associated with ESD’s assistance. The projects in the database highlight a total public and private investment of $18.4 billion, of which 82 percent of invested funds are leveraged private sector and non-ESD investment.
The Database of Economic Incentives is hosted on Open NY as part of the state’s Open NY initiative, a hub for one-stop access to information that helps the public better understand what is happening in government, officials explained. There are more than 645 million records available that are published by nearly 60 state agencies.