Because the rebate was conditional on sustained hiring and not a grant like the political rhetoric would have most believe.
Essentially the state was rebating the corporate tax they would have received in lieu of the income tax revenue obtained from the new positions along with the increased competition for high paying tech roles in the city.
The program was deliberately structured to be revenue neutral in terms of absolute tax revenue while increasing overall tax revenue by increasing state GDP
I'm not sure what you mean by political rhetoric. Are you saying calling it a subsidy would be misleading (?) because it was given on a condition? That seems a bid odd because subsidies often comes with conditions attached.
CoolGuySteve|1 year ago
Essentially the state was rebating the corporate tax they would have received in lieu of the income tax revenue obtained from the new positions along with the increased competition for high paying tech roles in the city.
The program was deliberately structured to be revenue neutral in terms of absolute tax revenue while increasing overall tax revenue by increasing state GDP
Johnssmithss|1 year ago