While every state offers tax incentives to attract, retain and expand businesses and jobs, few states actually provide good evidence that the tax breaks deliver an effective return on investment, according to a new report.
The report, by the Pew Center on the States, examined the quality and scope of states' evaluations of their tax incentives for economic development. The study, “Evidence Counts: Evaluating State Tax Incentives for Jobs and Growth,” identified 13 states that are leading the way in generating much-needed answers about tax incentives’ effectiveness: Arizona, Arkansas, Connecticut, Iowa, Kansas, Louisiana, Minnesota, Missouri, New Jersey, North Carolina, Oregon, Washington and Wisconsin. Twelve other states showed mixed results. Half the states have not taken the basic steps needed to know whether their incentives are effective.
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