Upstate NY Law Firms Reap Undisclosed Millions from IDA Deals that Cost Public Billions

Big political contributions from law firms earning transaction fees on IDA deals may fuel more and larger corporate subsidies. From 2017 to 2022, nine prominent upstate New York Industrial Development Authorities: signed subsidy deals valued at $42 billion; collected IDA fees from the deals worth $85.6 million (a small portion of which was paid to law firms in disclosed fees); generated another estimated $29 million to $39 million in undisclosed transaction fees for their law firms.

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