GCEDC board approves 2012 bonuses, raise for agency's CEO
The Genesee County Economic Development Center Board has approved 2012 incentive bonuses for staff members of $120,000 and given CEO Steve Hyde a raise on his base salary from $160,000 to $195,000.
He'll also receive approximately $10,000 in deferred compensation for 2013, for a total salary of $210,000.
Incoming Board President Charlie Cook said both the bonuses and Hyde's deferred compensation are part of the existing contract.
The board voted on the matters this afternoon and Cook promised a press release later today with more information.
At the board meeting there was no discussion of how the $120,000 in bonus money will be distributed among staff members, but in past years Hyde has received the bulk of bonuses paid. Last year, Hyde received $75,000 of the $120,000 bonus.
The 2012 bonus package is the final year that incentive compensation will be part of the salary structure for GCEDC employees, Cook said.
The board also approved a 2013 salary schedule for Hyde's staff that includes 10 percent in deferred compensation. The salary schedule has not yet been released.
The agency's compensation committee offered two recommendations for the 2012 bonus pool, either $100,000 and $120,000. Today's motion was to approve $120,000 and Mary Ann E. Wiater and John Andrews voted no in the 5-2 vote, preferring the $100,000 recommendation.
UPDATE: Here's the press release:
"After listening to the concerns of the community, including the Genesee County Legislature, the Board of Directors of the Genesee County Economic Development Center recently voted to move to a salary-only based compensation system, which eliminates the current incentive compensation program. No incentive compensation will be paid in 2013 and going forward.
“In the meantime, the board reviewed individual and organizational performance of the agency staff and approved the final, contractually established and measured, incentive compensation payments for 2012 to the GCEDC staff at our December 20th board meeting.
"In light of our community experiencing the greatest growth in manufacturing in over 50 years including attracting Muller Quaker Dairy and Alpina to our community along with the staff leading the way in securing $224.65M in investments along with pledged job creation of 427 this year – the GCEDC board believes the incentive compensation earned by the staff for 2012 is well deserved based on their excellent performance and in-place employment contract.
“We as a board would prefer to move forward and focus on all of the positive developments that the GCEDC has brought to the area, and because 2012 performance goals were met this year we will follow through with our contractually based incentive compensation plan.
“The bottom line is that the GCEDC staff continues to perform at a very high level and over the last several years has transformed this agency into a regional player successfully developing regional assets, attracting international companies and helping our existing base of business continue their growth that is benefitting our county and region in incredible ways. Their commitment, energy and hard work on behalf of Genesee County and the taxpayers is well documented."
You have got to be kidding me!@#$%^&*(*!
Thanks a bunch Legislator Ed DeJaneiro for voting against the other two City legislators who tried to stop this and your helping fund this farce.
What gets me is Ms.Hancock will protest on the court house steps about unfunded mandates but at the same time will ok a bonus program at the GCEDC that will pay Hyde 210,000 dollars this year...She did all this even thought a majority of county residents were against funding them to a tune of 210,000 dollars..Also at the same time she is trying to unload the county nursing home...At least there is three county legislators with a brain.....Kind of odd Hyde got paid 210,000 dollars and us the county taxpayers gave the GCEDC 210,000 dollars...
Gee the raise amount itself is twice what I earn a year. I sure picked the wrong line of work.
Well, as long as they understand:
NO MORE contracts... The employee works for the amount that his/her bosses (the taxpayer) are willing to pay, and they either do the job or get replaced. They can also pay at least half for their insurance, and do their own pension funding with whatever the prevailing private-sector matches... End the gravy-train that should have NEVER left the station in the first place. Between government sector employee unions, inflated bid-contracts, and free-trade agreements, you are looking at much of the debt Americans face at the Federal, State, county and local levels.
A 21% raise. A fu$kin' 21% raise!! Are these people for real?
When is the last time ANYONE out there received a 21% raise from their employer?
In my last 5 years of employment, I've averaged maybe 2 - 3% per year.
I'm actually at a loss for words. Nice work Steve. Congratulations. It's pretty clear that you are the beneficiary of working for a board that is COMPLETELY insensitive to the conditions of the local economy and the feelings of the taxpayers of the county. Congratulations. If I were you, I'd ride this puppy as long as you can - which appears to be what you're doing.
I am totally in disbelief of this.....I won't even comment at this time because I can't believe that representative's of the people can continue to let this BS go after the public has already let them know the stance they take. I will comment further when I have time to think clearly why our rep's keep defying us!!!!!!!!!!!!!!!1
"The bottom line is...helping our existing base of business continue their growth that is benefitting our county and region in incredible ways."
So what exactly ARE these benefits (and I'm speaking, of course, about those which have benefitted us in INCREDIBLE WAYS)? Not paying property taxes? Nope, that's pretty UN-INCREDIBLE. Promises of jobs? As if any of us will even remember 2012 by the time these jobs are realized, if at all.
$210,000 comes out to $4038 per WEEK. The majority of families in this county aren't making this much in a month. How much more can be shoved down our throats? I guess I'd rather not even read news articles like this. It shows how out of touch with reality our "public servants" are.
His raise is more than my AGI
It would be nice to get all the county legislators and Mr.Gsell on record as of what they think of Mr.Hyde 21% raise..And also if they feel they should be funding his pension..There is no way a semi-government agency should be paying out these kinds of salaries.All the money used by GCEDC is taxpayer money ,without it there would be no GCEDC...We should have more say on what they get paid...If they can hand out tax exemptions,then we should be able to set their wages...
Don't hate the player, hate the game. There are EDC's all over the state fighting for jobs with tax payer subsides. GC either has a top gun or your going to get your lunch eaten by the rest of the counties who are willing to play the game. The game is simple bribe companies to move to your county or watch the jobs go somewhere that will.
Why concern yourself so much with the costs of playing the cards we have all been dealt? Reform of the entire system should be the goal. You simply can't surrender and hope the other EDC's will go away.
See, I told you honey, there IS money in yogurt!!!!!!
How hard was it to entice a yogurt company to an area of the country that has the percentage of dairy farms that we have. As for the hotels.......minimal pay jobs at
How much enticing did it take to bring a Yogurt company into a Dairy rich area ????? and the money spent on bringing more hotels in......minimal pay for the employees!!!!!!!! It's time we got real with this.
Mark P from what I heard at the County Budget Vote that night, the GCEDC are on the state pension plane which makes them govt employees according to the legislators that voted No to the budget. From the allusions made by them I'd be willing to predict that Steve Hyde retires within the year to take advantage of the hight total salary he was paid this year. I really think it's time to organize the citizendry and start taking the County Legislators to task. Enough is enough, I am sure all of you feel as violated as I do over this. Charlie Mallow's argument about this being a game is correct, but Steve being a local man with connections in the good Ole boy network is really taking advantage. Despite the State Audit and others pointing out the improprieties. I counter to Charlie's suggestion that we accept the GCEDC Ceo as the cards we have been dealt and be happy, I think what we should truly do is make an example of him by running Steve and his cronies on the legislature out on a rail and get professionals that have a more realistic salary thats not so out of line with the rest of the state. Otherwise these EDC Ceo's and executives will get the idea to start demanding similar salaries, essentially putting the final nail in NYS's financial coffin.
I'm with you Kyle on all that.....Charlie i do think the whole IDA in New York State is whats wrong....For the billions this State had handed out for industrial development the state has nothing to show for it...New York State is still losing jobs every day....Problem with the GCEDC is i don't think the way they pay Mr.Hyde is legal..No other ida's give out bonus'es
And then to give him a 21% raise in one year is unheard off...Any way you slice it these IDA's are a government agency.The people that work in the IDA should be paid like any other state worker...NO BONUS"S or 21% raises.. ..We need to have more say on the salary structure off their workers..GCEDC has very little over site by the county... IT should be a department no different than the public works dept..The county manager should budget and over see it as he does all other depts. in the county....Mr.Hyde should report to him....Kyle if you want to organize an independent group let me know...
Like it or not, the pay is legal and so are the bonuses.
Kyle, state retirement pay is based on 1/2 of the average of your highest three years, so there is no incentive for him to retire next year, unless he just wants to. The longer he stays and the longer they give him raises, the higher his retirement will be.
But while many on here are rightly complaining, only 2 bothered to show up at the budget hearing. Three legislators tried to stop this, but you failed to show up and support them so this is what you get.
Your right John it his retirement is the half ot the least three years, not the highest if I am not mistaken and I could be wrong. However with thing for the state and federal government financially, he knows as well as we all do that this wont happen forever and his salary will eventually have to go down to realistic levels. Since it will be in the next decade that these supposed jobs and companies will either pan out or not. If its a boom then he will be lauded as a hero of GC but if they fail as they are most likely to do... Then he will want to be long gone before the stuff hits the fan. Like the snake oil salesmen of bygone days.
Mark, Lisa John, Lori and anyone else (It would be nice if you could too Doug) we need to get together and discuss this and see what and where we would be of greatest effectiveness. The Library or a local coffee shop would be good. We need to start doing something very soon otherwise we will not be very effective in getting our voices heard.
I am on board. Why not the library at noon on Saturday (most are not working)? Anyone live in the city 4 & 5th wards, where DeJaniero is from?
You people can NOT possibly be surprised at this?
Sadly Raymond, I dont think anyone is surprised. But thats the point, not surprising and even expected by most. Yet they have the cajones to go thru with it anyway and pee all over us taxpayers and tell us it's raining. It really exemplifies the true opinion they have for the general public, no matter how sincere the press releases sound.
i want a raise too.....oh,i'm just a serf
427 jobs this year.... couple hundred more next year.. 9000 jobs from the STAMP project.. I cannot believe the GCEDC has done this for such little wages... ARE YOU KIDDING ME. Mr Hyde if you even get a chance to read this please visit City Slickers with your entire office so that I can buy everyone a beer..and say. THANK YOU!!!!
Cows don't build infra-structure.
Only one taker so far for a meeting on Saturday. Do you have a better time and/or place? Maybe next Wednesday?
Where are the 427 new job created this year Mr.Mistler..Alpinia didn't hire that many....9000 maybe jobs somewhere years down the line....This deserves 210,000 dollars a year...How much does Gov.Coumo make..It is less than that...
Hey Mark that would be 230k for Mr Cuomo.. who put zero patrons.. thats right I said zero patrons in my restaurant.. My business is up 42 percent from 2010.. as a matter of fact, lets thank people like Mr Hyde why I was able to pay 14670.00 yesterday for sales tax. because business is up. And I do believe half of that stays directly to the county.. I am in know way the politician or the guy that sits here on these blog pages and complains about what other people should or shouldn't be paid. All I see is an increase in business as do my tenants. I know many of the workers who are building the pepsi plant by there first names and appreciate the business they bring to us all. The one thing that I do know is..Mr hyde brought them here..
Brought them here from where Ken? Are they from out of the county? Out of state? Just wondering because it would be nice if more emphasis was put on hiring local residents.
Ken glad to hear your restaurant is doing good..I hope that 14,600 for sales tax was a quarterly amt....The reason most have a problem with what Hyde gets paid is because it is government tax dollars that run the GCEDC..It is our money that funds his pension ..If this was a private company run with private money then it would be no ones business what any of them make or the bonus's they received.. The county just gave them 210,000 dollars .The county population has not grown....Where is all this growth ....And you know that most your business does not come from workers building a yogurt plant....
I don't think Mr. Hyde's pay or the GCEDC had to do much with your success (could be wrong). You were successful before this and from what I hear from people who go to your restaurant, it's your business ability that makes you successful.
Ken, Thank god for us your not a politician
I am just saying.. Some times we need to spend a little more to get the best product out there.. How much did we spend on the last City Managers salary that everyone allowed to build the city centre. How much was that 6-7 million? The same exact year they sold me Carrs for 10k. Why didn't any of you pipe up and say..Hey why not put 1 million into Carrs? Save the tax payers 6 million. The "S" curve? 1 more million. Hey lets build this City Centre where the highest real-estate at the time is located. That is MR Hydes salary for 30 years.. Mr Hyde has brought more to the county at a far less cost to the tax payers. Yes Mark that is this quarter. John thanks for the compliment, all I have to go on is my computer read out from last year to this and there has been a great increase. Just so happen Pepsi, Haskel, Alpina, the Iron workers and Electrical unions frequent my place and it doesn't take a politician Deb to connect the dots.
Just for the record, that last City Manager, Mr. Coppler, wanted to sell the property that City Hall sits on and keep it on the tax rolls. It was some Council members who prevented that sale, time after time.
Right church wrong pew..