Christie Leaning on Tax Subsidies in Hunt for Jobs

By artappraiser on Thu, 04/05/2012 - 12:55pm |

By Charles V. Bagli, New York Times, April 4/5, 2012

[....] Since taking office in 2010, Gov. Chris Christie has approved a record $1.57 billion in state tax breaks for dozens of New Jersey’s largest companies after they pledged to add jobs. Mr. Christie has emphasized that these are prudent measures intended to help heal the state’s economy, which lost more than 260,000 jobs in the recession. The companies often received the tax breaks after they threatened to move to New York or elsewhere.

The generous distribution of subsidies in New Jersey has come under fire from government-reform groups, Mayor Michael R. Bloomberg of New York City and some New Jersey landlords, who contend that the programs are an expensive and ineffective form of assistance to wealthy corporations [....]

URL:

http://www.nytimes.com/2012/04/05/nyregion/christie-gives-new-jersey-firms-tax-breaks-for-short-moves.html