Good Jobs First Subsidy News

05/21/2017

By Julie Carr Smyth, The Associated Press

COLUMBUS, Ohio — Want to know how much money governments give away in corporate tax breaks? Good luck.

For years, the figure has been incredibly difficult to calculate. That’s because states, cities and other government units haven’t been directed to uniformly report the value attached to the various tax incentives, abatements and financing deals they agree to as a way of stimulating economic growth.

A major accounting shift taking place across the U.S. now is changing things.

05/03/2017

By MIchael Hiltzik, Los Angeles Times

A few years ago, Washington state awarded the Boeing Co. the largest corporate tax break any state had given any corporation — a massive $8.7-billion handout aimed at encouraging the aerospace industry generally, and Boeing specifically, “to maintain and grow its workforce within the state.”

Unwisely, state legislators and Democratic Gov. Jay Inslee didn’t make that a hard and fast requirement of the handout. So they’ve had to stand by powerlessly as the company has cut 12,655 jobs, or more than 15% of its Washington workforce, since that heady signing ceremony in November 2013.

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