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In an Op-Ed in the St. Louis Beacon, Christine Harbin of the Missouri-based Show-Me Institute argued that "Tax credit programs are not as effective as advertised" and used Mackinac Center research to help make the case:
The Mackinac Center for Public Policy in Michigan released a study in which it compared job estimates made by Michigan's economic development agency accompanying tax credit awards to the actual outcomes of those programs. Mackinac found that only 7.9 percent of projects were completed on time and produced the number of jobs promised. Missouri cannot afford this failure rate.
In a recent series of articles, Michigan Capitol Confidential has been highlighting the folly of — and uncovered potential for abuse — involving these types of "economic development" programs by looking at the tax breaks offered to a horse racetrack.
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The Mackinac Center for Public Policy is a nonprofit research and educational institute that advances the principles of free markets and limited government. Through our research and education programs, we challenge government overreach and advocate for a free-market approach to public policy that frees people to realize their potential and dreams.
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