Washington Post reports; The Cares Act poured millions into corporate hands with no strings attached
The Washington Post reported on October 6th, 2020 that at least 133 corporate enterprises received more than $5 billion dollars from the cares act with no strings attached. The articles authors, Desmond Butler, Steven Mufson and Douglas MacMillan did a great job explaining that the legislation was created to promote the retention of employees, however these corporations received their stimulus in the form of a tax refund and no agreement to retain or hire new.
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Illinois - A Progressive Tax increase, Rising Energy Costs and little incentive offers Make site Selection and Workforce Development their biggest Focus.
On September 29th, 2020 in the RE Journal, ELISE COUSTON, SIOR posted an article titled, "Industrial Insider: An interview with Todd Maisch—CEO, IL Chamber of Commerce." This article talks about Illinois stepping up to the financial challenges and impending legislation changes to align Illinois as a pro-business state.
Branden Roberts, writing for Spectrum News, Offers a great article outlining Kentucky's incentive Program. Read this article that. was PUBLISHED 5:16 PM ET JUL. 27, 2020 below:
Learn how a panelist of business owners reveal that economic incentives are an important factor in expansion decisions.
Utah a fiscally conservative state with a dynamic economic development team announces 3 Incentive Packages that promis over 2400 jobs in 10 years.
Tony Semerad writing for The Salt Lake Tribune highlights this job creation story in his article published May 14th, 2020, entitled, "Utah announces tax incentives for three companies bringing new jobs to the state." Read the article below
As you know ENJEN Connects is the first of it's kind medium that allows governments to communicate in a forum that promotes using Tax payer dollars to support small to mid-size business who create growth. Read this article by ALAN GREENBLATT, SENIOR STAFF WRITER at governing.com and learn about how the big companies get over $107,000 per job 'promised" but often don't even hire them.
INTERESTING ARTICLE by Rapid City Journal Media Group, regarding the need for states to talk one on one with businesses and offer them money and support.
Nebraska needs to be competitive. All states have incentives. The state’s economic development professionals are visiting with businesses daily and sitting across the table from them. We know their needs, we know what our competition is.
As western Nebraska economic developers, we were disappointed to learn of one of our state senator’s views on economic incentives this week.
What happens to the small to mid-sized businesses that need support due to demand for hire wages by the already scares workforce and the real estate costs going up. Does Wisconsin's WEDC lose it's ability to support sammer businesses because it has given all of it support to Foxconn?
Scott Cohn of CNBS talks about the incentives with Foxconn to be controversial as they should be.
Foxconn’s agreement with the Wisconsin Economic Development Corp. (WEDC), the state’s business development arm, calls for the company to create the 13,000 jobs by 2032. The deal calls for the company to do its hiring in phases, meeting specific targets in order to qualify for subsidies of around $3 billion.
The payments are part of a controversial package totaling more than $4 billion in incentives and other assistance the state agreed to in 2017, believed to be the largest such package ever offered to a foreign company in the U.S.
In a recent feature in Business Facilities magazine, Illinois was lauded for being one of the most significant economies—not in our nation—but in the world. A big part of the growth in Illinois' economy is foreign direct investment, meaning foreign held businesses are growing in Illinois and Illinois is uniquely positioned to attract more non-US businesses. Read the full article here
Below is an excerpt of the article:
The top 25 countries are indexed annually by A.T. Kearney through a survey of global business executives that ranks markets that are likely to attract the most investment in the next three years. This year's report keep the US at the top of the list with some interesting changes in overall trends of foreign direct investment. The full report is available on the A.T. Kearney web site here, and it well worth the read. Below is an excerpt of the report detailing the US position in the report: