Subsidy Tracker Individual Entry

Company: 
Pyramid Companies
Parent Company: 
Pyramid Companies
Subsidy Source: 
multiple
Location: 
New York
City: 
Syracuse
County: 
Onondaga
Project Description: 

expansion of shopping mall

Year: 
2002
Major Industry of Parent: 
real estate
Specific Industry of Parent: 
real estate
Subsidy Value: 
$600,000,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Capital Investment: 
$1,800,000,000
Source of Data: 

The subsidy value came from: Rick Moriarty and Tim Knauss, "After more than 13 years of grand plans and setbacks, Robert Congel says Destiny USA is complete," Syracuse Post Standard, June 7, 2012.

Notes: 

When developer Robert Congel and his Pyramid Companies proposed a huge expansion of their Carousel Center mall into what was renamed Destiny USA, the city and state provided subsidies including a PILOT agreement that allowed the project to save some $600 million on property taxes over 30 years. The main Subsidy Tracker data includes various DestinyUSA entries under the Industrial Development Agency and Empire Zone programs.

Source Notes: 
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