Economic Development

There are 36 posts filed in Economic Development (this is page 1 of 4).

The Proposed STAMP Data Center: A Closer Look at the Benefit/Cost Claim

A large-scale data center campus known as Project Double Reed is planned for the STAMP industrial site in Genesee County. According to the applicant’s February 18, 2026 SEQR filing, the project would occupy roughly 90 acres, divided between a 60-acre North Campus and a 30-acre South Campus. It is designed as an extremely power-intensive facility: the project’s utility filing says it is expected to require about 500 megawatts of electric load. In comparison, STAMP’s electric plan contemplates a substation system expandable to 600 megawatts.

The project summary submitted to GCEDC also states that the developer is seeking a package of public assistance, including major sales-tax and mortgage-recording-tax exemptions, and a long-term PILOT arrangement, while projecting substantial electricity-related tax payments and other revenues over time. In short, this is not a conventional industrial project with large permanent employment; it is a very large, utility-intensive data center proposal whose economic case depends heavily on assumptions about long-run operating benefits and public costs. Are the sponsor’s claims well supported?

The Rockefeller Institute’s Disability Services Economic Impact Analysis: What it Measures and What it Doesn’t

The Rockefeller Institute of SUNY released a report on March 2nd, “The Economic Impact of Disability Services Providers in New York and NYSID: New Developments.” The report was funded by two disability services-related organizations: the New York Alliance for Innovation and Inclusion and New York State Industries for the Disabled (NYSID). The report claims that “Providers have an economic impact of $15.6billion and employ over 98,000 people while supporting almost 200,000 jobs. In addition to that impact, NYSID member agencies and corporate partners generated an economic impact of $470 million, employing 4,794 workers with disabilities. Together, the economic impact is over $16 billion.” Does the report accurately reflect the program’s impact?

The Proposed Albany Soccer Stadium – The Problem of Capital Financing

In two earlier posts, I examined the proposed downtown Albany soccer stadium. In the first, I discussed its possible role in Albany’s redevelopment and the likely difficulties it would face in generating operating profits. In the second, I briefly discussed the impact of the stadium’s capital costs on profitability. In this post, I examine possible financing structures for the proposed stadium and their impact on project viability.

The Proposed Albany Soccer Stadium – Why Scale and Financing Matter

In an earlier piece, The Proposed Downtown Albany Soccer Stadium: Potential Risks and Benefits, I considered the financial viability of the proposed facility. Although a hypothetical model showed a likely operational deficit, under more optimistic assumptions, the proposal might be viable. But the analysis did not account for the reality that the stadium’s capital costs […]

The Proposed Downtown Albany Soccer Stadium: Potential Risks and Benefits

Developers have proposed building a soccer stadium as part of a redevelopment of an underutilized section of Albany’s downtown, Liberty Park, near the MVP arena, often called “the parking lot district.” The proposal would include a 7,500-seat stadium, along with commercial development and up to 1,000 new housing units. Although details of the project proposal have not been made available to the public, one report indicates that the project sponsors are seeking $150 million in public support from the state, city, and county towards the $600 million project.

In this post, I take a closer look at the proposal, with its potential impacts, benefits, and risks. In it, I examine the financial viability of the proposal.

The Economic Value of College Depends upon Where You Live

College graduates enjoy a substantial income premium over those with a high school degree. In New York State, the median income in 2019 for people aged 25 or older with a Bachelor’s degree was $62,699. The median income for high school graduates was only $33,491. For those with advanced degrees, the median was $81,041. But […]

With a New Governor, New York Faces Economic Challenges

For decades, New York has had substantial disparities in economic performance. Although some parts of the State are doing relatively well, much of it has declining employment, higher levels of poverty, lower household income levels, and fewer adults working than the nation. Over most of the past decade, job growth was limited to Eastern New […]

COVID-19 erased New York’s Employment Gains over the Past Decade

From June 2011 to June 2019, New York saw employment increase by 388,440 – 4.4%. But by June 2021, the pandemic had erased all those gains. In June, the state’s employment was lower than in 2011 – by 72,916 jobs or 0.8%. Both before the COVID pandemic and in June 2021, New York’s job performance […]

New York’s Population Increased by 823,147 between 2010 and 2020 while Upstate’s Declined

Based on the newly released 2020 Census data, New York’s population grew by 823,147 residents – 4.25% – between 2010 and 2020. The State’s performance was similar to others in its region and not far from the median growth rate for all states – 5.9%. But, more than three-quarters of the population growth took place […]