Wall Street Journal: Corporate Tax Breaks Surge in Push for Chip and Electric-Vehicle Factories
“States and cities, flush with pandemic-stimulus cash, are ramping up their pursuit of new jobs by showering companies with big tax breaks.
States and local governments, including in Georgia, Michigan and West Virginia, agreed to give out at least $1 billion in subsidies eight times in 2022, according to an analysis from Good Jobs First, a nonprofit research group that is often critical of subsidies. These tax breaks, cash grants and other incentives went to companies in return for opening a factory.
Those are the most subsidies of that size ever in a single year. Just one deal of that size occurred from 2018 to 2021.”
Read the full article at the Wall Street Journal.
Read the Good Jobs First report on megadeals.