Comptroller DiNapoli Explains Economic Development Audit
Spectrum News (subscription required)
Aug 24, 2020
Comptroller Tom DiNapoli’s office released an audit of over $2 billion of Empire State Development investments in private companies. The audit covered multiple projects under the troubled Buffalo Billion umbrella.
The news wasn’t good.
“Despite millions of dollars of state funding, selected high-tech projects have yet to create the expected number of jobs,” the audit stated.
The report found that many projects lacked sufficient detail, and that ESD failed to perform proper due diligence on some projects.
Comptroller DiNapoli discussed the audit with Capital Tonight’s Susan Arbetter.