Rockland County IDA Approves $77 Million Subsidy for One Job Creation
The Rockland County IDA has authorized a $77 million tax break in exchange for the creation of just one job. This decision raises concerns about the efficacy of tax incentives when they yield minimal employment benefits, highlighting a potential misallocation of public funds.
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The IDA in Rockland County has approved a substantial subsidy of $77 million for a commitment to create only one job. In contrast, Genesee County's IDA is known for its significant subsidies, including an $11.7 million per job handout for a data center project expected to generate 125 jobs.
Criticism has emerged regarding the irrationality of such tax breaks, as highlighted by John Kaehny of Reinvent Albany. Additionally, a report from Wired Magazine emphasizes the environmental impact of data centers, suggesting that their growth underpins a potential climate crisis. With Tesla's South Buffalo plant costing approximately $650,000 per job, the trend of high-cost job creation continues to raise eyebrows.
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