Posted on 01/06/2018 1:42:01 PM PST by ameribbean expat
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 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.
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“Another brilliant business decision by Govt. “
Excellent! The New York punks got punked! Gotta love how a California company pulled a fast one on these sheisters? What company in their right mind would move to NY?
If Trump had negotiated the deal this would never had happened.
I replaced my over range exhaust hood recently and had to buy light bulbs for it. (surprisingly it did not come with the bulbs. Spend hundreds of dollars and light bulbs not included)
The manufacturer recommended Halogen Bulbs.
The type required were about $14 apiece.
I talked about it with a salesman and recommended LED bulbs. He said the halogen last about a year and the LED at least 5 years. And the LED was only $3.
The LEDs work great and put out plenty of light.
Now why would the hood manufacture recommend halogen and not just supply LEDs with the hood when by buying the bulbs in bulk they could likely get them for a buck apiece. And then not have unhappy buyers.
I really, really hate this state.
O’Cuomo’s watch. Figures.
Wait!? $90 million for 82,000 SF!?
That’s $1100 a square foot! That’s absurd.
Solar City business in Buffalo. 800 million 400 people employed, 20 million per person! where is this money where is this money!
After Solyndra and the amount of press it did NOT get,
learning from history didn’t get far, did it?
New York State is California with snow.
$360,000 per job that was never created...
They would have been better to just give away $360,000 to each of 250 random people.
Similar type deal (doesn’t anyone read the fine print?). New York agreed to build a factory (at grossly expensive per foot building costs) for Elon Musk. They were to build ‘state of the art’ solar panels there that looked like architectural shingles. Musk was to pay $2.00 a year rent to New York. Eventually, the wizards (Musk) realized that they could not deliver what they had promised, so they sublet the factory to Panasonic. For how much? No one knows, its a secret. Panasonic builds good old fashion, garden variety solar panels there. Musk pockets the money, and the taxpayer in New York gets the good ol’ fashion Kevin Spacey treatment.
Check!!
Looks like NY is so bad for business they can’t even fund it for the business men and make it lucrative enough.....speaks volumes.
That kind of money would never be given to just random people.
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