When we reported last month on the approximately $4.5 billion that city taxpayers are spending on the “dynamic neighborhood” of Hudson Yards on Manhattan’s West Side, eagle-eyed readers may have noticed that our breakdown of the costs featured a tilde (~) before the $750 million figure for tax breaks for commercial developers — indicating that “this figure is our best guess.”
Now, a draft paper by two New School researchers has conducted an even more comprehensive trawl for Hudson Yards public costs, and while it generally confirms our analysis, it finds a couple of items we missed: A total of $1.1 billion worth of items, in fact, bringing the public price tag to a staggering $5.6 billion, with hundreds of millions of dollars still to flow from city coffers.
Ho hum! It’s not a tech company, so who cares? Here is the article, via Alex X. As for FoxConn and Wisconsin: “Remember: Wisconsin is giving Foxconn more $$$ and incentives than New York, Virginia and Tennessee combined gave Amazon. And the real kicker? Foxconn will create far fewer jobs (13,000) than Amazon (55,000)”