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Local Governments 'Claw Back' Corporate Tax Breaks
CHICAGO Cash-strapped communities have a message for corporations that promised jobs in return for tax breaks: A deal's a deal. Target Corp. got abatements from area taxing bodies after promising at least 500 jobs at a local distribution center. So when the company came up 66 workers short in 2009, Target got word its next tax bill would be jumping almost $600,000. In St. Louis County, officials have told Pfizer that if it cuts 600 jobs, as planned, they'll rethink the $7 million in tax breaks they promised to give the company for the next 10 years.Posted by: Anguper Hupomosing9418 2010-01-04 |
| http://www.rantburg.com/poparticle.php?ID=287073 |