Each year, state, county, and local governments, competing for investment, grant a startling $80 billion of subsidies. www.nytimes.com/2012/12/02/us/how-local-taxpayers-bankroll-corporations.html. Manufacturing, agriculture, and then oil, gas, and mining rank as the top 3 recipients of these huge subsidies. I, for one, had no idea that oil, gas, and mining were near the top.
Competing for investment among states is a reality that is not going to vanish. A state that drops out of the competition is either brave, foolish, or both.
Yet, much greater accountability to increase the odds that taxpayers recover the costs of their payments to attract new jobs must become the norm too.