Tax incentive for jobs
Why not offer corporations a very generous tax break for every new job they create? The tax break can be tied directly to each job. For example, If a company creates a $100,000 job, then X dollars is given as a tax credit to the corporation. If we use our resources to “incentivize” the creation of new jobs, then maybe we can encourage business owners to start hiring again. One thing is for sure…the recession is not over. Unemployment keeps going higher and the small business owner is still feeling it. Until the small business owner has customers again, the economy will be standing right where it is.
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Scott,
Maybe TN is different than NY, but there is a ton of that happening up in NY state. Unfortunately, as with most government administered programs, the system might be a bit broken.
There are MANY cases where a company came in promising jobs and received big tax breaks. There is no follow up or claw back in place if they don’t deliver on the jobs. This is being reviewed, but at this time, many companies have gotten big breaks without creating the jobs that they expected. Obviously projections change and hiring can freeze due to economic conditions, but there are many cases where it appears the intent to hire was never there.
If you are searching for programs. Contact your local IDA (industrial development agency).