There currently seems to be no shortage of startups in NYC, even without these tax breaks. And if a company only comes to NY because of the tax breaks, they might leave when the tax breaks expire.
I had the same thought until I realized that Human capital is a lot harder to move than buildings. Yes, it's possible to move a company away from a city, but 10 years is a long time. Long enough that a company would lose a ton of employees by moving out of state.
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Better the tax breaks go to startups and new businesses than to bureaucracies and large corps.
There currently seems to be no shortage of startups in NYC, even without these tax breaks. And if a company only comes to NY because of the tax breaks, they might leave when the tax breaks expire.
I had the same thought until I realized that Human capital is a lot harder to move than buildings. Yes, it's possible to move a company away from a city, but 10 years is a long time. Long enough that a company would lose a ton of employees by moving out of state.
What about your average, everyday, not new, small business? If low taxes are good all of the sudden, why not lower them for everybody?