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Other economic development programs should be nextmore
LaFaive: Special favors unfair to competitors, taxpayers.more
Michigan taxpayers are paying for something private businesses normally pay for themselvesmore
More proof corporate welfare doesn't work.more
Very few jobs to show for special favors, subsidies.more
Analyst: 'If the program was really about retaining college graduates or reversing the brain drain, it is clearly a failure'
Gov. Rick Snyder’s first budget fell short of the “atomic bomb” promised by Lt. Gov. Brian Calley, in part due to the fact that a megaton of further spending and tax cuts were left on the table. Overall, the budget moves the state in a positive direction with greater tax simplicity, more transparency, less corporate welfare and fewer discriminatory tax policies.more
About nine months before an Auditor General's report questioned the accuracy of job projections in tax incentives handed to companies by the state, the Mackinac Center for Public Policy did its own study highlighting the problem.
The Mackinac Center study states that for every 1,000 jobs companies projected they would create, about 294 jobs were actually created, on average — about 29 percent.
That report was vindicated by the Auditor General report that was released April 23. The report looked at company projections from 2005 through 2007 and concluded that about 28 percent of projected jobs came to fruition.more