SolarCity Failing Before It’s Even Finished
Assemblyman Christopher S. Friend (R,C,I-Big Flats) is pointing to a recent string of layoffs at SolarCity as a sign the business, largely propped up by Gov. Cuomo’s Buffalo Billion, is already failing. Several of the Buffalo Billion contracts have been subpoenaed by U.S. Attorney Preet Bharara.
“Government has never driven innovation in the private sector,” Friend said. “There is no substitute for the free market, and the governor is learning that the hard way as another one of his pet projects begins to fail. SolarCity is downsizing roughly by half because it relies so heavily on government subsidies. When Albany is the sole force keeping your business alive, you’re going to get Albany mismanagement. It’s time to stop using good money to chase bad money. This program has been rife with potential corruption and mismanagement. Instead of flashy programs like the Buffalo Billion, we should be cutting taxes and incentivizing private- sector growth. You cannot control an economy, and the more you try the worse it gets.”