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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
Subsidy Value in 2023 Dollars: $1,021,910,538
Program Name: multiple
Awarding Agency: multiple
Type of Subsidy: 
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: If an online information source is not working, check the Tracker inventory page for an updated link.