Sen. Gianaris To Propose Legislation Requiring Community Impact Assessment For Economic Development Projects

Gianaris Joins Coalition of Reformers to Promote Major Reforms to Economic Development

ALBANY, N.Y. – Senate Deputy Leader Michael Gianaris joined members of the Neighbors Beyond Amazon coalition today to launch a new platform of policy proposals aimed at improving New York’s economic development climate. Senator Gianaris is leading the way with legislation that would require a social impact study for any major economic development project.

"For too long we have funded economic development without considering the impact it has on our neighborhoods,” said Senate Deputy Leader Michael Gianaris. “It’s time to change that and insist on development that helps our communities rather than hurts them. We must prioritize the benefit of everyday people and not just wealthy interests."   

Senator Gianaris’ new legislation would require a Social Impact Study, like the currently-required Environmental Impact Study, to be completed before major economic development projects are undertaken. This would give communities a chance to understand the need for addressing housing and transportation before funding is permitted.

He has also worked on additional legislation to widely reform the economic development process, including banning non-disclosure agreements for economic development deals, eliminating the tax giveaway for opportunity zones that do not directly impact high-need communities, and banning insider dealing in the real estate industry.

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