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New York Governor candidate on state corporate welfare: "It's insanity"

New York Governor candidate on state corporate welfare: "It's insanity"

February 02, 2018 10:58 PM

A candidate for governor is responded to News10NBC's New York State Exposed report about a photonics company that will not be coming to Rochester as announced.

Avogy was one of two high-tech businesses touted by the Governor Andrew Cuomo two years ago.

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In March 2016, Cuomo announced a partnership with Avogy. The company would relocate from California to Rochester, bringing 400 new jobs and investing $1.6 billion in New York. In return, the New York State pledged $40 million in assistance.

But Avogy went out of business before ever moving here, or ever getting any taxpayer money.

New York Gubernatorial candidate and Republican Joel Giambra calls it a failed economic strategy. 

"I believe that if you continue to do things the same way you've done them and expect a different result, it's insanity, he said. “I think this whole corporate welfare approach has been insane. It doesn't work."

As News10NBC first reported on Thursday, Avogy's CEO has now started a new business called NexGen.

Empire State Development recently announced it is now partnering with NexGen to have them move into to a New York state-owned factory in Syracuse.

Credits

Brett Davidsen

Copyright 2018 - WHEC-TV, LLC A Hubbard Broadcasting Company

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