Key Facts about IDAs

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:

  • $162 million in IDA tax breaks went to companies that lost jobs, failed to create a single job, or never made any job creation promises.
  • Over one-half of all projects that ended in 2011 failed to create a single job. 94 subsidy agreements that ended in 2011 lost jobs. These businesses originally agreed to create a total of 5,971 jobs. Instead, they lost 17,017 jobs. Of the 52,565 jobs agreed to be retained by projects ending in 2011, these projects lost 1,166 net jobs.
  • IDAs have maintained high spending on net tax exemptions, spending $490 million in 2011, slightly more than they spent in 2010. Since reporting began in 2003, IDAs have spent a total of over $4 billion in net tax exemptions.
  • Local governments are increasingly picking up the tab for corporate tax exemptions, losing $401 million in tax revenue in 2011, including $211 million lost to local schools.

Download the complete analysis below.

Download Report (PDF) »

Comments are closed.