Incentivizing dishonesty: The Amazon deal was sunk by politicians who blatantly misrepresented the way economic incentives work; reform is welcome, but it must be deliberate - New York Daily News.
Oh hi there, fellow New Yorker picking through the rubble after the collapse of a deal that would've brought up to 40,000 good jobs and solidified the city's tech-industry leadership for a generation: Can we now talk rationally about incentives designed to attract businesses to our city and state?
No, not in the deeply disingenuous way that foes of Amazon piled on the package the company was getting to set up shop here.
Ridiculous: Almost all the incentives were paying back a small fraction of what Amazon's employees would be paying into public coffers, over the course of a decade.
Massive net gain for the city and state: nine dollars in revenue for every dollar in public spending, by design.
We repeat: Under law, Amazon was entitled to that $1.3 billion in givebacks.
As for the state's money: Amazon may well have qualified anyway for the $1.2 billion in Excelsior jobs and investment tax credits it was slated to get; four other Amazon projects in the state have already benefited from the program.
https://www.nydailynews.com/opinion/ny-edit-incentivizing-dishonesty-20190215-story.html
Oh hi there, fellow New Yorker picking through the rubble after the collapse of a deal that would've brought up to 40,000 good jobs and solidified the city's tech-industry leadership for a generation: Can we now talk rationally about incentives designed to attract businesses to our city and state?
No, not in the deeply disingenuous way that foes of Amazon piled on the package the company was getting to set up shop here.
Ridiculous: Almost all the incentives were paying back a small fraction of what Amazon's employees would be paying into public coffers, over the course of a decade.
Massive net gain for the city and state: nine dollars in revenue for every dollar in public spending, by design.
We repeat: Under law, Amazon was entitled to that $1.3 billion in givebacks.
As for the state's money: Amazon may well have qualified anyway for the $1.2 billion in Excelsior jobs and investment tax credits it was slated to get; four other Amazon projects in the state have already benefited from the program.
https://www.nydailynews.com/opinion/ny-edit-incentivizing-dishonesty-20190215-story.html
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