Monday, April 1, 2013

Monday morning: time for cronyism!

This time the place is Buffalo, New York, and the guilty parties are the Buffalo Bills of the National Football League and the Empire State Development Corporation, an agency that reports to NY Governor Andrew Cuomo.  The "losers" is this case are the taxpayers of Erie County, NY as is explained in this NY Post article from last week:
For it turns out that the state now has an arrangement with the Buffalo Bills for a whole luxury suite. It’s described in documents as the I ♥ NY Hospitality Center, and it will be used by the Empire State Development Corp. to wine and dine potential investors. The luxury box is one small part of a corporate-welfare deal meant to keep the Bills in upstate New York. Under this agreement, the state will pay roughly $54 million to finance upgrades for Ralph Wilson Stadium, which is owned by Erie County. The taxpayers of Erie will cough up another $41 million.
Read the whole article here. (HT: Crony Chronicles).