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NY taxpayers built $90M factory in DeWitt for firm that walked away, didn't create a job
Post Standard, Syracuse NY ^ | 01/04/18 | By Rick Moriarty rmoriarty@syracuse.com,

Posted on 01/04/2018 9:06:56 AM PST by Behind Liberal Lines

DeWitt, N.Y. -- In 2014, the development arm of SUNY Polytechnic Institute agreed to build, with $90 million in state money, a factory in DeWitt for an LED light bulb manufacturer.

The company, California-based Soraa, agreed to create 250 full-time, high-tech jobs at Collamer Crossing Business Park and to encourage Soraa contractors and suppliers to create another 170 jobs in Central New York.

In return, the company would be allowed to lease the factory for $1 a month for 10 years.

But the deal with SUNY Poly's Fort Schuyler Management Corp. did not require Soraa to spend any of its own money to build or equip the factory. And it contained no penalties if the company did not occupy the building or create the promised jobs. The company never even signed a lease.

So when Soraa recently said it no longer needed the factory and pulled out of the deal just as the state was completing construction of the 82,000-square-foot building, there was nothing the state could do about it.

The state was left with a factory, nearly fully equipped, but no company to use it....

(Excerpt) Read more at syracuse.com ...


TOPICS: Business/Economy; Crime/Corruption; Editorial; Government; Politics/Elections; US: New York
KEYWORDS: collamercrossing; cuomo; dewitt; fortschuylermgmt; fraud; kaloyeros; ledbulbs; ledlightbulbs; lightemittingdiode; newyork; princeandrew; scam; soraa; sunypolytechnic
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1 posted on 01/04/2018 9:06:56 AM PST by Behind Liberal Lines
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To: Behind Liberal Lines

The politicians love to take your money and give it to those who they favor.


2 posted on 01/04/2018 9:10:18 AM PST by I want the USA back (Lying Media: willing and eager allies of hate-America savages.)
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To: Behind Liberal Lines

Don’t worry though, no government employee involved in this HORRENDOUS deal will lose their job or their pension.


3 posted on 01/04/2018 9:10:36 AM PST by Darteaus94025 (Can't have a Liberal without a Lie)
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To: Behind Liberal Lines

Is laughing out loud about this okay?


4 posted on 01/04/2018 9:11:52 AM PST by ltc8k6
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To: Behind Liberal Lines

I’m guessing Cuomo had to have brought in Connecticut’s governor Dannel Malloy for guidance as to how to achieve this kind of outcome.


5 posted on 01/04/2018 9:12:08 AM PST by BillyBonebrake
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To: Behind Liberal Lines

Maybe I should go to New York and ask them to build AND pay for a craft beer brewery.

Would create jobs and there is no shortage of people wanting to buy beer.


6 posted on 01/04/2018 9:12:18 AM PST by unixfox (Abolish Slavery, Repeal the 16th Amendment)
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To: Behind Liberal Lines

The Government needs to back out of business decisions - when it comes to good sense they are fools.


7 posted on 01/04/2018 9:12:33 AM PST by elpadre (AfganistaMr Obama said theoal was to "disrupt, dismantle and defeat al-hereQaeda" and its allies.)
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To: Behind Liberal Lines

$90 million for 250 jobs. Sounds very Solyndra-worthy.

Give me $90 million and I could create that many jobs with fast-food restaurants.


8 posted on 01/04/2018 9:12:39 AM PST by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: Behind Liberal Lines

These “new business” incentives so often turn out to be a beat-down on the taxpayers.

First of all, a business should be able to survive without government support.

Secondly, I always see new business incentives to be a finger in the eye of existing businesses.

These business have been loyal, supported the community, and paid boatloads of taxes, but the government turns it back on its old faithful wife to try to induce some flashy new girl to get in bed with it. Never works out well.


9 posted on 01/04/2018 9:13:02 AM PST by Fido969 (In!)
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To: Behind Liberal Lines

California-based, the first problem, second is the self righteous scum runner Cuomo and his band of criminals.


10 posted on 01/04/2018 9:13:48 AM PST by ronnie raygun (Trump plays chess the rest are still playing checkers)
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To: SaveFerris
Give me $90 million and I could create that many jobs with fast-food restaurants.

This is a blue state. Many of those millions went to unions, political contributions and kickbacks.

11 posted on 01/04/2018 9:14:08 AM PST by Fido969 (In!)
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To: Behind Liberal Lines
SUNY Polytechnic Institute
12 posted on 01/04/2018 9:14:13 AM PST by 1Old Pro
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To: 1Old Pro

SUNY pol is corrupt, many have already been prosecuted.


13 posted on 01/04/2018 9:15:07 AM PST by 1Old Pro
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To: Behind Liberal Lines

http://www.localsyr.com/news/soraa-leaves-multi-million-dollar-dewitt-facility/886326688

A new company is supposedly moving in for $15M more.


14 posted on 01/04/2018 9:15:13 AM PST by ltc8k6
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To: Darteaus94025

“Don’t worry though, no government employee involved in this HORRENDOUS deal will lose their job or their pension.”

But get caught with a 20 clip magazine and see what happens.


15 posted on 01/04/2018 9:16:32 AM PST by alternatives? (Why have an army if there are no borders?)
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To: Hieronymus; VampireStateNY; governsleastgovernsbest; gaspar; NativeNewYorker; drjimmy; Atticus; ...

Upstate bump


16 posted on 01/04/2018 9:17:02 AM PST by Behind Liberal Lines (Their side circles the wagons. Our side revs up the bus.)
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To: Fido969

More than likely. Yeah the fact that it is New York wasn’t lost on me.

There are a lot of groups that make their money off gov’t funds. How many bonehead plays like this does it take before a state becomes financially insolvent?


17 posted on 01/04/2018 9:17:25 AM PST by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: Behind Liberal Lines

Sounds like Public Housing.


18 posted on 01/04/2018 9:18:14 AM PST by Kickass Conservative (Tweet softly, but carry a big stick.)
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To: ltc8k6
From August...

Empire Zones, NY's failed aid to companies, still costing taxpayers: $3 billion plus

19 posted on 01/04/2018 9:18:41 AM PST by mewzilla (Was Obama surveilling John Roberts? Might explain a lot.)
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To: Behind Liberal Lines

When are NJ taxpayers going to wake up? NJ.gov. sucks the lifeblood out of them, and they lie down like a bunch of stupid sheep!


20 posted on 01/04/2018 9:19:26 AM PST by miserare ( Hillary--you lost! Get over it!!)
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