State Senate Has Leverage to Slash Amazon Subsidies
Patrick O’Sullivan was quoted in Crain’s New York Business, discussing the debate over the incentive package for Amazon’s new Long Island City headquarters. Governor Andrew Cuomo said the state would provide the company $1.2 billion in tax credits through the state's discretionary Excelsior Jobs Program and up to $505 million in cash grants, which could involve an approval from New York’s Public Authorities Control Board (PACB). Although not all grants require PACB approval, O’Sullivan said "it seems probable that the Amazon headquarters project will need to pass through the PACB. Several other projects of this scope and size that utilized a general project plan required the board's approval, including Atlantic Yards."