Each year, IDAs are required to report on the projects they subsidize. We analyze that data and produce key facts about IDA performance. Highlights of this year’s analysis include:
- $182 million in IDA tax breaks went to companies that cut jobs, failed to create jobs, or didn’t promise to create any jobs.
- Over one-half of all projects that ended in 2010 failed to create a single job. Businesses that originally promised to create a total of 7,865 jobs instead lost 7,896 jobs.
- IDAs continue to maintain high spending while state and local budgets are slashed, spending $483 million in 2010.
- Local governments are increasingly picking up the tab for corporate tax exemptions, losing $426 million in tax revenue in 2010, including $200 million lost to local school boards.
Download the full analysis below.