Good Jobs First Subsidy News
By Jim Heaney and Charlotte Keith, Albany Times-Union
New York has seemingly tried every which way to jump-start its upstate economy.
Governor after governor proposed what they considered the answer to upstate's economic woes, but program after program came up short.
Gov. Andrew Cuomo was determined to change that when he took office in 2011. Cuomo has increased state subsidies, launched several bold initiatives and crisscrossed the state to announce state-funded projects he frequently described as "game-changers."
By Michael J. Bologna, Bloomberg/BNA
Online retail giant Amazon.com Inc. is about to set a record that few in the tax policy arena thought would ever be achieved.
Amazon, the national leader in e-commerce sales, is expected to vault past a record for state and local tax subsidies held for many years by Wal-Mart Stores Inc., the undisputed king of brick-and-mortar retail sales.
By Mike Macieg, Governing
When it comes to tax breaks for economic development, following the money has never been easy.
Thanks to new accounting rules, states and localities have to disclose how much revenue they lose to such deals. But a new report finds that most of the nation’s largest local governments fail to reveal other basic information online, like what companies are benefiting, how much money they receive or whether they deliver on promises to create jobs.
By Steve Harrison, The Charlotte Observer
Charlotte has an ambitious program to spend tax dollars to land new jobs. But when it comes to revealing information about its incentive programs, the city gets a failing grade, according to a national study.
The Washington D.C.-based group, Good Jobs First, ranked the nation’s 50 largest cities on how much they share with the public about their economic incentive programs.
By James T. Madore, Newsday
Two industrial development agencies on Long Island are among the nation’s most transparent government agencies that award tax breaks to businesses, thanks to reporting requirements from New York State, according to a report to be released Wednesday.