Preservationists Argue for More State Historic Tax Credits in PA
Preservationists say the state tax credits are one of the most important tools used by the government to protect historic buildings. Yet Pennsylvania's tax credit program took 16 years of advocacy efforts to pass the General Assembly, and the $3 million cap is among the smallest in the nation and has not been increased since it was established.
Investigation Finds OR DOE Mismanaged a $1B Tax Credit Program
An independent investigation of the Oregon Department of Energy's now defunct BETC program, handed out more than $1 billion in incentives to 14,494 projects. Investigators found $347 million of tax credit records show evidence of "concerning" risk factors.
Energy Groups Push for Renewal of Tax Credits
Trade groups for biomass, hydropower and other energy sources are pushing Congress to renew expiring tax credits for their industries before the end of the year. The groups asked Congress to reauthorize their tax breaks before they expire at the end of the year.
Job Creation Tax Credits Create 153 Jobs in Berwyn PA
Pennsylvania Governor's office announced Wednesday that Envestnet, Inc would be establishing a new location in Chester County, resulting in 153 new jobs in the area. Envestnet received $459,000 in Job Creation Tax Credits from the state, and $36,000 in state funding for employee training.
Legislators Want Hard Data on VA State Return on Investment from Historic Tax Credits
Members of the joint House and Senate Subcommittee to Evaluate Tax Preference said they want to see more hard data on the state's return on investment from the historic credits program, which has provided more than $1 billion in tax credits since its inception in 1997.
New Round of OH Tax Credits to Create $76M in New Payroll
During its monthly meeting, the Ohio Tax Credit Authority (TCA) reviewed economic development proposals brought to the board by JobsOhio and its regional partners. Collectively, the projects are expected to result in $76 million in new payroll, and spur more than $230 million in investment across Ohio.
What Are the Economic Outcomes from Film Tax Incentives?
Film incentives continue to come under fire, with another study calling into question the economic benefits of these programs. This post reviews the study's results and approach and is part of an occasional series examining reports evaluating economic development incentive programs.
NMTC and FIRE Tax Credits May Add 60 New Milwaukee Employees
Milwaukee-based Tramont Manufacturing LLC plans to expand its operations in the Riverworks Industrial Center District, potentially adding 60 employees over the next three years. The company is seeking $10 million in New Markets Tax Credits through the First-Ring Industrial Redevelopment Enterprise.
Amazon Looks for Giant Footprint in PA
Pennsylvania's Department of Community and Economic Development offered Amazon $5 million from the Pennsylvania First program, $15 million in job-creation tax credits, plus $2.25 million in employee training - so long as Amazon creates 5,000 more jobs over the next three years.
Tax Credit to Farmers Donating Crops is Wise
An idea that would encourage New York State farmers to donate drops to food banks and other emergency food programs could come to fruition if Gov. Andrew Cuomo signs legislation passed by the Senate and Assembly last term.