By Gregory B. Hladky
12:38 PM EST, December 4, 2012
The New York Times is doing a phenomenal job of detailing the often insane costs of local and state tax credits, loans, and grants to all types of corporations in the hopes of luring or keeping jobs.
Connecticut has long been a prime player in this corporate giveaway game, which can pit city against city and state against state in the public prostitution effort to bring in or retain business and industry.
An Advocate story last January detailed the mostly futile efforts of Connecticut officials to eliminate some of the $5.4 billion in corporate tax breaks, loopholes and exemptions that have been doled out to corporate Connecticut over the years.
Gov. Dannel Malloy's administration, desperate to show some improvement in this state's sluggish economy, has once again stepped up the pace of bribing companies to add jobs in Connecticut.
What's making all this even worse is the fact that Connecticut, like so many cities and states across the nation, is in serious budget trouble and may have to once again raise taxes for average citizens or slash spending for programs that help the neediest in our society.
Here's the NYT list of what companies and industries in Connecticut have gotten in recent years from the state. (One word of caution: the list includes a reference to the $7.75 million Malloy's adminstration offered to Ticketworld. That money was returned as a result of a scandal involving Ticketworld's founder.)
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