STATEMENT

by Kathryn Wylde, President & CEO
PARTNERSHIP FOR NEW YORK CITY

New York, New York
September 17, 2008

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Statement From Kathryn Wylde, President & CEO of the Partnership for New York City on State Senate Support for Economic Development Reform

"Today, State Senate Majority Leader Dean Skelos announced that his conference will support reform of New York's ineffective economic development incentives. Most important, he called for elimination of Empire Zones — a program that has spiraled out of control and provides almost $500 million a year in indiscriminate tax breaks to businesses without consideration of their contribution to the state's economic growth. We look forward to helping the Governor and the Legislature come up with a new approach to economic development that assures New York City and State a position of leadership in the 21st Century innovation economy.”

The Partnership for New York City (www.pfnyc.org) is a network of business leaders dedicated to enhancing the economy of the five boroughs of New York City and maintaining the city’s position as the center of world commerce, finance and innovation.