Thursday, January 24, 2013

Economic development costs Nevada $30,000 per job in tax incentives


Nevada officials approved $87.6 million in tax incentives to create nearly 2,900 jobs in the past two years, according to data obtained by the Las Vegas Sun.

That’s about $30,000 in forgone tax revenue per job.

Some state economic development officials argue that figure shouldn’t be looked at as a cost to taxpayers. Instead, they say, it’s a $30,000 per job enticement — a temporary cessation in tax collection — that brings with it jobs, additional tax revenue and a broader economic effect, such as construction jobs and bumps in consumer spending. More here.

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