Legislative Report. Left & Right are ok with this economic development incentive…

Viriginia’s Joint Legislative Audit and Review Commission found Virginia’s tax credits & tax incentives ineffective but a free market think tank and watchdog group both find grants ok.

Why are grants better?

• More economic benefits to the state from grant programs targeting “businesses that sell most of their good or services out of state, pay high wages and rely on local suppliers”
  • like manufacturing
• more economic benefits from programs that require job creation and capital investment
  • a requirement in the Virginia grant program

Watchdog.org | Virginia study: State’s tax incentives are ineffective