A stunning survey issued today by the International Economic Development Council (IEDC) proves that state and local economic development officials overwhelmingly agree with most accountability activists.
That is, hundreds of people who deal with site location consultants, tax-dodging lawyers, and footloose companies every day think there need to be some serious rule changes.
Washington, DC, October 10, 2012 -- Good Jobs First today released an updated version of its model state legislation to make economic development subsidy programs more accountable and effective. It can be found at: http://www.goodjobsfirst.org/accountable-development/model-legislation
Despite the fact that many economic development deals fall short on job creation or other benefits, states are inconsistent in how they monitor, verify and enforce the terms of job subsidies. Many states fail to verify that companies receiving subsidies are meeting commitments, and many more have weak penalty policies for addressing non-compliance.
Today as America honors Dr. Martin Luther King, almost one in six African-American workers are officially unemployed. Let us remember: the full name of the 1963 event for which he is best remembered was The March on Washington for Jobs and Freedom (emphasis added).
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. These are the findings of a new Good Jobs First report released today.