Alejandra Cancino's article on tax incentives provides some interesting insights on Illinois edge incentives as well as corporate tax incentives in general. Cancino discusses the 43 million dollar incentive package that was given to Motorola for a cell phone assembly line in Mchenry Country. According to state data more than $500 million was spent on business incentives in the fiscal year of 2016 in Illinois alone. Full article listed below.
General Motors has greatly benefited from the federal tax break "net operating loss carry forward". This year alone they have avoided paying 18 million in federal taxes due to previously filing for bankruptcy. Additionally, at the end of last year GM still has 8.6 billion in future domestic tax credits. GM also received a $7,500 credit that buyers get for purchasing plug in cars. Furthermore, GM was awarded tens of millions in research grants in a variety of departments, such as energy. This is a great example of tax incentives at work. Full article below.
Amazon's H2Q is to be located in Crystal City in Arlington, Virginia as well as Long Island City in Queens, New York. As stated by Amy Plitt in NY Curbed, New York will be giving amazon up to 1.7 BILLION in subsidies. In exchange, Amazon is committing to creating 25,000 new jobs in addition to building a school. Despite popular belief, you do not need to be a large company to qualify for government incentives. ENJEN takes pride in contributing to organic job growth by negotiating maximum benefits for mid market companies.
Full article listed below.
Read this and more just like it and then ask yourself...wouldn't it be smarter to take this money and energy and use it to grow the multitude of small to mid-market companies? Post2grow.com
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