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DiNAPOLI: VALUE OF IDA PROJECTS GREW 10% IN 2021 TO $126 BILLION Number of Projects Rose 1.5% to 4,324

New York’s 107 local Industrial Development Authorities (IDAs) reported 4,324 active projects with an aggregate value of $126 billion in 2021, a 10.4%, or $11.9 billion, increase compared to 2020, according to a report released today by State Comptroller Thomas P. DiNapoli. The number of IDA projects increased by 1.5%. 
“IDAs can play an important role in helping local economies and businesses expand. This report provides taxpayers with a look at the financial and project data reported by local IDAs so they can track their activities,” DiNapoli said. “The tax breaks IDAs provide can impact local taxes so it’s important to ensure these projects are creating or retaining the jobs and economic benefits they are supposed to. Publishing this information, including IDA costs, helps to increase their accountability.”

Since 2011, the number of active IDA projects has remained relatively stable, but total project value has been increasing. Average project value over the period increased 76% from $16.5 million per project in 2011 to $29.2 million in 2021. County IDAs were responsible for 61.2% of all active IDA projects in 2021, followed by towns (18.5%), cities (12.3%), New York City (7.4%), villages (0.5%), and city-town IDAs (0.1%).

The report summarizes data as reported by IDAs for fiscal year end 2021 through the Public Authorities Reporting Information System (PARIS) and is not independently verified by the State Comptroller’s Office. While most IDAs operate on a calendar year basis, several, including the New York City IDA, do not.
DiNapoli’s report found that: Three IDAs – Town of Concord IDA, City of Corinth IDA and City of Mount Vernon IDA – did not submit their data in time for this report. The report also contains information on Local Development Corporations, a related type of local authority.

DiNapoli’s office examines IDA costs and outcomes in several ways, including performing audits of the operations of individual IDAs, providing training to IDA officials on various topics, and encouraging improvements in IDA procedures and reporting.

Annual Report
Performance of Industrial Development Agencies in New York State
IDA Data by Region
Office of the New York State Comptroller - 2021 IDA Data by Region