April 19, 2012
Pew: Evaluating State Tax Incentives
The Pew Center on the States, Evidence Counts: Evaluating State Tax Incentives for Jobs and Growth:
In their quest to strengthen their economies, particularly in the wake of the Great Recession, states continue to rely heavily on tax incentives, including credits, exemptions, and deductions, to encourage businesses to locate, hire, expand, and invest within their borders. Yet half the states have not taken basic steps to produce and connect policy makers with good evidence of whether these tools deliver a strong return on taxpayer dollars.
Research by the Pew Center on the States concludes 13 states are leading the way in generating much-needed answers about tax incentives’ effectiveness. Twelve states have mixed results. The other 25 states, along with Washington, D.C., are trailing behind.
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I choose to go by actual results rather than what a bunch of analysts decide in an "egg-head" study.
The state -- best known for agriculture and textiles production -- is enjoying the best pickup in industrial manufacturing in five years as U.S. and foreign companies flock there. ... The credit goes to the state's low taxes, top-grade trade schools, a statute that curbs union power, and other incentives spurring many manufacturers to move to or expand in the state, experts said. ... "At the end of the day, the incentive package that Alabama offered us, in terms of tax abatements, labor training programs and infrastructure grants were very compelling.""
In other words, doing the opposite of what Obama pushes in states where he needs votes.
Posted by: Woody | Apr 19, 2012 12:24:34 PM