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Originally Posted by EastSideHBG
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Love it or hate it, in the modern era it seems that in many, many cases, the areas that can afford big tax breaks are the areas getting and keeping businesses.
Look at some events in New Jersey:
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Originally Posted by Philly.com
This year, the state has promised more than $2 billion in tax breaks to companies. Subaru of America agreed to stay, and the Philadelphia 76ers plan to move their offices and practice facility to Camden while continuing to play in Philadelphia, a short drive away.
At the same time, the state has lost some major businesses: Car rental giant The Hertz Corp. is moving to Estero, Florida, with the help of $85 million in tax breaks, and Bubble Wrap maker Sealed Air Corp. is moving to Charlotte, North Carolina, with the aid of $35 million in breaks.
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http://www.philly.com/philly/business/20141227_ap_55dcdc33840f4e45a3f697e062ccdee9.html
There are many other businesses that have moved from the northeast to the south to get tax breaks.
I for one am happy Philadelphia and (Pennsylvania) is one of the places that do offer tax breaks. Offering a $40 million dollar city/state tax break towards a $1,200 million project like the CITC is a good idea in my opinion.