Corruption and "Economic Development" in New York State

E.J. McMahon and Seth Barron discuss recent corruption cases in New York and how the state government in Albany is attempting to revitalize struggling areas with "economic-development" programs. Last month, Joseph Percoco, a former top aide to Governor Andrew Cuomo, was found guilty on corruption charges for accepting more than $300,000 in bribes from two companies. Percoco's conviction reinforces the perception that New York politics operates on a "pay-to-play" model. Allegations of bid-rigging and other corrupt practices have dogged Albany ever since Governor Cuomo launched his signature economic-development plan, which provides subsidies to private firms to operate businesses in the state. Despite these efforts, New York continues to lose residents to other states every year. Edmund J. McMahon is founder and research director of the Empire Center for Public Policy, based in Albany. Follow him on Twitter @EjmEj.