Pew Center on the States

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April 12, 2012 | 12:14 PM | By Dustin Dwyer

Are Tax Incentives Working? Many States Don’t Even Check

The Pew Center on the States checked all 50 states to find out which ones are evaluating their tax incentive programs. Credit: Pew Center on the States.

Tax incentives have become the weapon of choice among states battling for new business investments. Niala Boodhoo reported in December that offering incentives has become a sort of strategy game for Midwest states hoping to one-up each other as everyone fights to grow jobs. But, as Niala reported, these are games with millions of dollars in tax breaks and thousands of jobs on the line.

Now, the Pew Center on the States is taking a look at incentives from a different angle. The Pew Center tried to figure out whether anyone is actually checking to see whether the incentives are worth it.

Turns out, a lot of states do very little follow-up once they approve incentives programs.

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FILED UNDER: Communities, Government, Jobs, incentives, Pew Center on the States, tax incentives
April 12, 2012 | 7:53 AM | By Dustin Dwyer

Midwest Memo: Tracking Tax Incentives, Rebounding RVs And Foreclosure Numbers

Not tracking incentives Few states are doing a good job tracking their business tax incentives. That’s according to a new report from the Pew Center on the States. The AP has a writeup. Among Midwest states, Pew says Wisconsin, Minnesota, Iowa and Missouri are “leading the way.” Michigan and Ohio have “mixed results.” And Illinois and Indiana “trail behind.” The full report is here.

Revved up for RVs PBS Newshour reports on the rebounding RV industry in Indiana. The town of Elkhart was struggling just a few years ago because of a downturn in RV sales. Elkhart turned to electric vehicle maker Think to help boost jobs. Now, Think is in bankruptcy, and the RV companies are hiring again.

Now, on to the budget Detroit mayor Dave Bing will present his budget plan to city council this morning. It will be the last budget proposal from the mayor before a new financial advisory team takes over the city’s finances.

In full bloom A report from Michigan State University says the state’s agricultural sector grew dramatically during the recession. Partner station Michigan Radio has the details of the report, which claims agriculture now contributes $91.4 billion to the state economy.

Foreclosures New foreclosure numbers are out from RealtyTrac. The Midwest still has 7 states in the top 20 for highest foreclosure rate.

FILED UNDER: Midwest Memo, agriculture, Dave Bing, Detroit, Elkhart, foreclosures, Indiana, Michigan State University, Pew Center on the States, RealtyTrac, RV, tax incentives, Think