![]() By comparison, last year 205 firms shared $32 million in tax credits under the program but because there’s no cap on REAP, Amazon can accrue $75 million in tax credits from the program in a single year. In his Gotham Gazette op-ed, Stringer says Amazon stands to receive some $900 million in tax credits from the program. REAP is a tax credit program originally designed to help attract employees outside of Manhattan’s business core. On Friday the comptroller requested the EDC return specific information that would help him fact check the assertion that Amazon’s Long Island City development would provide a 9-to-1 return on investment, as well as breakdowns on the refundable tax credits Amazon stands to gain through the Relocation and Employment Assistance Program (REAP) and the Industrial and Commercial Abatement Program (ICAP), the New York Daily News reports. Now, Stringer has issued a firm request to the city’s Economic Development Corporation for the detailed information behind the numbers that sealed the Amazon deal behind closed doors. City Comptroller Scott Stringer has publicly decried Amazon’s deal with the city, calling it a “taxpayer-funded entitlement program” in an early December op-ed in the Gotham Gazette. ![]()
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