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The Sound of Ideas

Are Corporate Tax Breaks Worth It?

Posted Tuesday, August 5, 2008

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Ohio just gave tax breaks of $82 million for GM in Lordstown, $68 million for Bridgestone in Akron and $1.7 million for Ford in Lima. It's nice to keep industry around, but is the state getting its money's worth? On The Sound of Ideas®, we take a look at the economics of the corporate tax breaks that have become standard practice in economic development. We'll find out how much they influence corporate decision-making, what other factors count and just how much bang we're getting for our tax break buck.

Tags

Economy, Making Change, Regional Economy/Business - Analysis and Trends, Regional Economy/Business - News, Other, Technology

Guests

Robert Chirinko, professor in the Finance Department at the University of Illinois at Chicago and a research fellow at the Center For Economic Studies (Munich).
Ron Kitchens, chief executive officer of Southwest Michigan First
William Wells, President, Sales and Marketing, ViewRay Incorporated

Additional Information

GM Tax Break Package Is State's Biggest Since '93, The Plain Dealer
Kalamazoo's Lesson: Educate and They Will Come, The Wall Streat Journal
Ford to Add Shift at Lima Engine Plant; Brook Park May Suffer, The Plain Dealer
City Gains Peace of Mind by Keeping what It Has, The Akron Beacon Journal
State Investment Tax Incentives: A Zero-Sum Game?, study by Robert S. Chirinko and Daniel J. Wilson
Ohio Department of Development
Team NEO, joint venture of the largest metro chambers in Northeast Ohio

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Every weekday at 9:00 AM (EST), The Sound of Ideas reports the news, explains the news, and sometimes makes news. The Cleveland Press Club awarded it “Best Radio Show” in Ohio and thousands daily find it to be an indispensable source of information about what’s most important to Northeast Ohioans.

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Funding for Ideas/Sound of Ideas comes from The George Gund Foundation, The Cleveland Foundation, Eaton Corporation Charitable Fund, the George W. Codrington Charitable Foundation and the Nord Family Foundation.