DiNapoli: IDA Performance Improves, But Concerns Remain
New York’s Industrial Development Agencies (IDAs) supported nearly 4,500 projects and provided $560 million in net tax exemptions in 2011, increasing estimated job gains by almost 36,000 from the previous year, according to a reportissued Tuesday by State Comptroller Thomas P. DiNapoli. DiNapoli’s sixth annual report examining the performance of the state’s IDAs found improved reporting of data but recommended that IDAs do more to objectively weigh incentives against economic benefits to communities and evaluate projects receiving tax and other breaks.
State Pension Fund Invests $568,000 In Fieldlens
New York State Comptroller Thomas P. DiNapoli announced a $568,000 investment in FieldLens, creator of a mobile and web application designed for the construction industry. The investment was made through High Peaks Venture Partners, SoftBank Capital and Contour Venture Partners. The New York State Common Retirement Fund is an investor in these funds through its In–State Private Equity Program.
DiNapoli: Empire Continuing to Overpay for Special Medical Items
New York State health insurance provider Empire BlueCross BlueShield overpaid hospitals by nearly $490,000 for special medical items such as implants, drugs and blood, including more than $77,000 to just one hospital, over a six month period, according to an auditof the New York State Health Insurance Program released Thursday by State Comptroller Thomas P. DiNapoli.
Comptroller DiNapoli Releases Municipal Audits
New York State Comptroller Thomas P. DiNapoli Wednesday announced his office completed the following audits: