Putting Pension Costs in Context: How Corporate Tax Breaks are Diverting State Revenue Needed for Public Employees' Retirement (Part I)
The first part of this report looks at six states that are simultaneously in danger of not being able to pay public employees' pensions and giving out massive corporate tax breaks. $3 billion was spent on corporate subsidies and tax breaks in Arizona, Connecticut, Kansas, Kentucky, Oklahoma, and Wyoming during FY 2018. About two-thirds of that amount would have covered the states' pension system contributions. Curbing corporate welfare can make a substantial difference in relieving the pressure on state budgets and supporting retirement security for millions of public employees.
States and localities have given retail juggernaut Amazon almost a quarter-billion dollars in economic development subsidies in the past two years for warehouses the company must build to fulfill the rapid-delivery service tied to its Amazon Prime business model.
In Search of A Level Playing Field: What Leaders of Small Business Organizations Think About Economic Development Incentives
A national survey of leaders of small business organizations reveals that they overwhelmingly believe that state economic development incentives favor big businesses, that states are overspending on large individual deals, and that state incentive programs are not effectively meeting the needs of small businesses seeking to grow.
Show Us the Subsidized Jobs: An Evaluation of State Government Online Disclosure of Economic Development Subsidy Awards and Outcomes
Prominent studies that purport to measure and rank the states’ “business climates” are actually politicized grab-bags of data. They contradict each other wildly, have no predictive value, and should not be used to inform public policies. This is only the third such analysis of pseudo-social science “business climatology” in 27 years.
Paying Taxes to the Boss: How a Growing Number of States Subsidize Companies with the Withholding Taxes of Workers
States are increasingly using the withholding taxes of their workers to subsidize companies. This is justified in the name of job creation, but payments often go to firms that simply move existing jobs from one state to another, or to ones that threaten to move unless they get paid to stay put.
Full text of report
Appendix: subsidy program descriptions
Spreadsheet list of companies receiving subsidies linked to personal income tax revenue
This companion report to our Money for Something and Show Us the Subsidies studies evaulates state subsidy programs on their use of clawbacks and other penalties in enforcing job-creation, job quality and other performance standards.Press release. Executive summary. Full report with appendices. Full report without appendices. Appendices.
Connecticut’s major economic development expenditures are high in cost, poorly monitored and may be undermining the public goods that actually constitute the state’s competitive advantage for jobs. press release
This report examines legislative changes to two geographically targeted economic development programs: tax increment financing (TIF) and enterprise zones. It asks the question: Have laws governing these programs been weakened to permit the use of these programs in non-blighted or affluent areas? In virtually every state that has weakened its TIF or enterprise zone program, the answer is "Yes."
A comprehensive summary and database of 122 state performance audits of economic development programs of the last decade.
No More Candy Store is the original compilation of grassroots remedies for corporate welfare abuse -- remedies like money-back guarantee "clawbacks," requirements that subsidized companies pay fair wages and benefits, rules for full disclosure, environmental protection and "anti-piracy" safeguards against "paying Peter to rob Paul" with taxpayers money. Verbatim passages from all of the nation's best state and local laws and contracts, ready-made for activists, legislators and anyone seeking to make economic development subsidies accountable.