WSHU: Outside NYC, Brookhaven IDA rakes in highest fees in 2021
“The Brookhaven IDA (Industrial Development Agency) brought in the most revenue outside of New York City in 2021 from fees in putting together deals for corporate tax breaks.
More — and bigger — tax abatement deals mean more revenues for IDAs. These unelected boards drive economic development in counties, cities, towns and villages — in Brookhaven, its members are appointed by the Town Board.
Brookhaven IDA raked in more than $5 million in revenue, according to national policy resource center Good Jobs First. In comparison, New York City IDA brought in $14 million, while the next highest charges for services was $1 million less in several upstate IDAs that are countywide — instead of a single town. (Brookhaven has among the largest populations in New York.)”
Read the full story at WSHU.