Wyoming’s version of “let’s make a deal” is a little too generous – according to a new report that looks at tax breaks and subsidies for businesses. The Good Jobs First study examines state requirements for those investments, and ranks Wyoming as 49th worst when it comes to ensuring money spent creates jobs. Dan Neal with the Equality State Policy Center says the state has long tried to find ways to diversify the economy. The governor recently announced he wants to spend 15-million dollars on incentives for data center companies.
Report author Philip Mattera says subsidies, incentives and cash grants can be useful tools for states interested in creating good-paying jobs with benefits, but only if that’s clear up front.
Dan Neal says one of Wyoming’s most expensive economic development programs deserves immediate scrutiny – the sales tax exemption for manufacturers. The exemption has cost the state more than 32-million dollars over three years.
The economic turmoil can explain some job losses, but Neal says the state’s own reports show the exemption has been claimed mostly by manufacturers already in the state, not new businesses bringing new jobs.
Report author Philip Mattera says subsidies, incentives and cash grants can be useful tools for states interested in creating good-paying jobs with benefits, but only if that’s clear up front.
Dan Neal says one of Wyoming’s most expensive economic development programs deserves immediate scrutiny – the sales tax exemption for manufacturers. The exemption has cost the state more than 32-million dollars over three years.
The economic turmoil can explain some job losses, but Neal says the state’s own reports show the exemption has been claimed mostly by manufacturers already in the state, not new businesses bringing new jobs.
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