Quote:
Originally Posted by rubberneck
I'm not saying that business should avoid getting "breaks', what I'm saying is that in the end the only party that really benefits is the business. Not that they're capable of doing it but NY could significantly grow it's tax base by returning to fiscal sanity instead of trying to bribe companies.
https://itep.org/tax-incentives-cost...on-the-nation/ |
If it was just tax breaks it would be one thing, you can't lose tax dollars you never had. But New Yorkers were going to be on the hook for Grants of up to 500 Million, that's real tax payers money there and I truly have a problem with that.
https://www.democratandchronicle.com...on/1986979002/
Up to $1.2 billion will be in the form of state tax breaks under the state's Excelsior Jobs Program, which are awarded to the company on a rolling basis only after jobs are created over 10 years. It works out to $48,000 per job. The remaining $325 million to
$505 million will be in the form of cash grants dispersed over 10 to 15 years, depending whether Amazon goes beyond its job goals.
Those grants, which are meant to cover some of Amazon's capital costs, will be distributed to the company when it hits certain job and investment benchmarks each year.