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By Anjeanette Damon (contact) 
Thursday, Jan. 17, 2013 | 2 a.m.
Nevada officials approved $87.6 million in tax incentives to create nearly 2,900 jobs in the past two years, according to data obtained by the Las Vegas Sun. That’s about $30,000 in forgone tax revenue per job. Some state economic development officials argue that figure shouldn’t be looked at as a cost to taxpayers. Instead, they say, it’s a $30,000 per job enticement — a temporary cessation in tax collection — that brings with it jobs, additional tax revenue and a broader economic effect, such as construction jobs and bumps in consumer spending. “You need to be very careful how you ...
An example of corporate "entitlements"!
Hawaii and Vermont have just over 5% unemployment. Liberalism = jobs.
Yes, peacelily, this is in fact a perfect example of corporate entitlement. You might also notice that the normal "conservatives," as they call themselves, aren't being sheep herded over to this topic in order to spam slam it.
Every truly resilient and diversified economy has become so because they massively foster innovation and home grown start ups and not because they give away the farm to mature multinational corporations.
Sandoval & Hill are employing the exact same failed policies used by Gibbons and his predecessors and you can see how well our economy became diversified because of past attempts.
@sebring...there are curiously few comments. I guess some examples of government picking winners and losers just aren't up to scrutiny by our more capitalistic comrades.
And how much do these jobs pay? We've seen where the new businesses sometimes (often?) go out of business before long.
Right. Let's call all Taxes, Fees and all entitlements, "a temporary cessation in tax collection", Democrats really know how to balance a budget, just change the names and cook the books
It's nice to see some real journalism in this city occasionally.
If the State of Nevada has to offer incentives to businesses for "diversification" purposes, then instead of using MONEY, use land! Nevada has plenty of government owned land and sunshine is there for all to take, let's use those assets. Commenters are correct about entitlements, as entitlements are entitlements. Make good use of those solar, wind, and geothermal manufacturing plants too. Create more jobs with training to make, install, and service green power generators. Think OUTSIDE the box.
Land for a business facility and supplying power are fixed expenses when having and doing business. Land and power would be a fabulous draw for economic diversification.
Blessings and Peace,
Star
Very good article. The politicos are being paid off to make sure that the tax incentives are paid. One hand washes the other, or should it be one palm greases the other.
This is really a hand out to rich politicians friends.
Basically, they get a bunch of employees for free and make lots more money for their greedy selves.
Instead of complaining about what it takes to get other business in our great state of Nevada read the supporting material and see what we get in return for the discount of taxes we ask these companies to pay.
In most cases we will receive much more than was given up. Should be in all cases.
It is not like we handed these companies tax payer cash. If not for the "discounts" given to them they may not be here at all. Something to us is better than nothing.
Lots of other states are willing to give much more than we did.
Great article with information that needs to get out there to a wider audience. How disturbing to find out Steve Hill admits his office "does a poor job at tracking" the alleged benefits of this program.
If these ancillary benefits are key to bringing in investment, then they should be monitored too. You can be sure that the companies are monitoring to the penny the amount of development money promised to them, with lawyers at the ready if the funds aren't flowing. Why does the state not have equally-adequate oversight and accounting 2, 3, 4 years after the money has been given out?
Federal incentives are often 10X that.
" Quail Hollow, a farm in Moapa Valley, was awarded $6.2 million for an expansion creating 44 jobs."
5th grade math computes the quotient as $141,000 per job. Since $7/hr is $14,000/year, the tax system pays the wages of Quail Hollow's 44 jobs for the next 10 years, up front. But where do the profits go?
Whoa!!!
We need a mascot & a slogan for this kind of state-sponsored gift-giving...
How about Snagglepuss Sandoval;
"Heavens to Murgatroid!"
http://www.youtube.com/watch?NR=1&v=...