"The $77 million subsidy is the largest of its kind, per job, in the country, according to watchdog groups. That figure represents sales taxes that JPMorganChase would otherwise be paying on materials and equipment for the billion-dollar project."
"The county is giving away quite a lot of public money in exchange basically for nothing, said Kasia Tarczynska, senior research analyst at the national subsidy watchdog group Good Jobs First."
"The kind of tax breaks JPMorganChase received, doled out by local agencies called industrial development agencies, were designed first and foremost to attract companies that bring steady jobs."
"Last month, the outlet Investigative Post reported that the per-job subsidies proposed for a massive data center in Genesee County, at more than $11 million, would be the largest in the country."
A public hearing in Rockland County regarding a $77 million subsidy for a JPMorganChase data center attracted no attendees and was approved shortly after. The subsidy, the largest per job in the U.S., raises questions about the effectiveness of tax breaks intended to create steady jobs. Data centers require significant investment but employ few workers, challenging the rationale behind such incentives. Critics argue that the county is giving away substantial public funds without adequate returns, highlighting a growing concern over similar projects across the state.
Read at Truthout
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