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Economic Development? State Handouts and Jobs

A New Look at the Evidence

This study analyzing the impact of several major economic development programs run by the state of Michigan dating back to 1983. The authors use the National Establishment Time Series database to track the performance of firms that were offered some form of fiscal incentive from the state. It compares those firms' job growth to those of similar firms that were not offered incentives.

This analysis finds that only three of the nine programs studied had a statistically significant positive impact on job growth for firms that were offered incentives, but this job growth came at a significant cost: on average, the state offered nearly $600,000 worth of incentives for every job created.