Posts Tagged Disclosure

Oct
7
2021

Ford Announces Giant Electric Vehicle Plant in Western Tennessee

On September 27, Ford Motor Company announced plans to invest $5.6 billion at the Memphis Regional Megasite in Stanton, Tennessee, to build an electric vehicle (EV) assembly and battery plant, jointly with SK Innovation. The facility, dubbed “Blue Oval City” by Ford (in a reference to its corporate logo), is projected to employ 5,800 people as Ford makes its first big foray into EV production. The same week, Ford and SK Innovation revealed plans for two more battery plants in Glendale, Kentucky, south of Louisville, at an estimated cost of $5.8 billion.

Apr
15
2021

Subsidy Tracker Adds 17,000 New Records

We posted a new version of Subsidy Tracker, Good Jobs First’s database of company-specific subsidy awards from state and local governments across the country as well as federal agencies. During this round of updates, we added over 17,000 entries from 112 state and local programs from 28 states. We also updated the federal programs. We also added nine megadeals.

Aug
14
2015

GASB Launches a New Era of Subsidy Transparency

For decades, state and local governments have issued Comprehensive Annual Financial Reports (CAFRs) that failed to include an important part of their fiscal condition: the extent to which they have forgone revenue by giving economic development tax breaks to businesses. An estimated $70 billion in subsidies are awarded each year in the name of job creation and economic growth.

Mar
27
2015

DC Subsidy Transparency Leads to Campaign Finance Reform

On the heels of a terrific NPR-station exposé, the District of Columbia has become the first large U.S. jurisdiction to enact campaign finance reform thanks to job subsidies becoming transparent.

Feb
11
2015

Report: District of Columbia Job Subsidy Practices In Need of Improvement; Lag Behind Nearby Jurisdictions

 

Washington, DC—Despite the District of Columbia embracing four leading best practices, other basic economic development standards and safeguards remain absent.

WebBox_ABetterDealfortheDistrict_FINAL_Feb6Broadly, the District has four major shortfalls:

  • failure to set job creation and job quality standards,
  • lax reporting on project outcomes,
  • failure to enforce existing standards, and
  • the need for an online transparency database.

The report is available at:

http://www.goodjobsfirst.org/ABetterDealForTheDistrict

Despite such shortcomings, experience shows that the District can rapidly change course. For example, recent enhancements raised D.C.’s ranking on job subsidy transparency from dead last to 26th among the states in a 2014 Good Jobs First national report card study.