« It came from the Blogosphere... | Main | AY ten-year timetable realistic or p.r. scheme? ESDC, residents battle in court »
May 29, 2008
State Races To Attract an Economic Tsar
At Least Eight Decline To Take Development Post
The NY Sun
By Jacob Gershman
Hey, how about an ad on Craig's List?
Governor Paterson is struggling to lure a top-tier talent to take over the state's most important economic development agency, as pressure is building on him to settle for a candidate from within his political circle.
A growing list of heavyweights in the business and real estate world has turned down the offer to become the sole chairman of the Empire State Development Corp., which has been left in a state of limbo since Mr. Paterson assumed office more than two months ago.
...The erstwhile prospects privately offered the administration a variety of reasons for not wanting the job. Some were unwilling to accept a public-sector salary or had business dealings that would be disrupted by their departure. Others are said to have been wary of the intense public scrutiny that accompanies such a high-level government position.
...Compounding the concerns is the state's financial turmoil, which means a smaller pool of public capital and private investment in costly development projects. The development agency is already mired in setbacks. It recently scrapped plans for a $1,8 billion expansion of the Javits Center and has been unable to breathe life into plans for renovating Penn Station and for the construction of an Atlantic Yards basketball arena and residential complex in Brooklyn.
NoLandGrab: Could it be that prospective "development czars" aren't jazzed about overseeing the dismantling of the ill-conceived Atlantic Yards project?
Posted by eric at May 29, 2008 8:56 AM