Posted by: maboulette | December 2, 2012

SPECIAL REPORT ALERT BY NY TIMES

LINES BLUR IN TEXAS AS INDUSTRIES SEEK GIVEBACKS

Breaking News Alert on Special Report
The New York Times
Sunday, December 2, 2012 — 8:15 PM EST—-

Under Gov. Rick Perry, Texas offers more incentives to attract businesses than any other state, around $19 billion a year, an examination by The New York Times has found. Texas justifies its largess by pointing out that it is home to half of all the private sector jobs created over the last decade nationwide.

Yet the raw numbers mask a more complicated reality behind the flood of incentives, the examination shows, and raise questions about who benefits more, the businesses or the people of Texas.

In a state that markets itself as “wide open for business,” the lines are often blurred between decision makers and beneficiaries, according to interviews with dozens of state and local officials and corporate representatives.

Along with the huge job growth, the state has the third-highest proportion of hourly jobs paying at or below minimum wage. And despite its low level of unemployment, Texas has the 11th-highest poverty rate among states.

To help balance its budget last year, Texas cut public education spending by $5.4 billion — a significant decrease considering that it already ranked 11th from the bottom among all states in per-pupil financing, according to recent data from the Census Bureau. Yet highly profitable companies like Dow Chemical and Texas Instruments continue to enjoy hefty discounts on their school tax bills through one of the state’s economic development programs.

Read More:
http://www.nytimes.com/2012/12/03/us/winners-and-losers-in-texas.html?emc=na


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