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Have, like, ANY of these state corporate boons actually worked out?
by TylerE 4y ago
Have, like, ANY of these state corporate boons actually worked out?
- berkle4455 4y agoYeah, Tesla's core lifeline for years was state-level ZEV credits, not to mention the various EV subsidy schemes.
- topkai22 4y agoSo far, the Nevada Tesla Gigafactory stuff is still considered an enormously successful endeavor. Probably the exception that proves the rule though.
- bertil 4y agoIt’s probably the same distribution of return as venture investment: even if one in 20 of 50 work, if they repay their cost a hundred-fold, it’s worth doing more of them, including riskier ones.
- blamazon 4y agoHow do you measure 'actually working out'? The generalized NY Excelsior tax-cuts-in-exchange-for-jobs program [1] is much larger than one factory and is regarded by some as having a net positive impact to the state. [1]: https://dos.ny.gov/system/files/documents/2021/04/excelsiorjobsprogramoverview.pdf https://dos.ny.gov/system/files/documents/2021/04/excelsiorj...
- purple_ferret 4y agoI don't know, but they'r pretty persistent regardless. Almost $9 billion in corporate incentives in 2021[0] https://info.siteselectiongroup.com/blog/largest-economic-incentive-deals-of-2021#:~:text=States%20with%20the%20largest%20awards,billion%20for%20142%20projects%2C%20respectively https://info.siteselectiongroup.com/blog/largest-economic-in....
- KennyBlanken 4y agoThe Great American Jobs Scam, which was written almost two decades ago, covers how these handouts never work out in favor of the state/taxpayers. https://goodjobsfirst.org/gajs/ https://goodjobsfirst.org/gajs/ The biggest receiver of welfare in the US, aside from possibly defense contractors, is Walmart. They pay their employees so little that most of them are dependent upon social programs, and Walmart had dedicated staff for helping employees apply for those programs.
- panick21_ 4y agoPretty much every major industrial facility receives lots of stuff. So yes, lots of them have worked out. A notable good example is the Gigafactory in Nevada, where not only is the Gigafactory doing as well in terms of jobs as expected, but also that in Nevada lots of other battery companies have been growing.