New York's 115 industrial development agencies are failing to provide promised jobs while costing the state and local governments tax revenue, two advocacy groups said in a joint report last week.

Tax-exemptions provided by IDAs cost the state and its municipalities $645 million in lost revenue, according to "No Return on Our Investment," a report released by New York Jobs with Justice and Urban Agenda, which describe themselves as coalitions of worker and community organizations with a focus on sustainability.

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