New Hires same as the Old hires - How do you measure overall COMIDA-enabled job growth?
How do you do it? It is a math problem right? Add up all the new hires. COMIDA grants tax abatements or other benefits in exchange for the promise of a company hiring someone - creating a new job.
Ok - let’s look at Medley Centre (again).
The current proposal includes a Movie Theatre Complex. People will be required to run the movie theatre. where will they come from? OK - jobs are created for the new movie theatre. But, what about the movie theatre just a mile away? What if it folds? Does the loss of jobs there somehow offset the overall job creation?
Seriously– does part of getting tax abatements include an impact study on overall job loss in the immediate area? I’m guessing not because then you would see that retail simply shuffles jobs from one area to another.
Developers are pursuing a Regal theater complex, but LeBeau said he does not know about the fate of a Regal complex less than a mile away at Culver Ridge Plaza. A spokeswoman for Developers Diversified Realty, the Cleveland-based company that owns Culver Ridge, said Regal Cinemas has given no indication they would close.
“They have a long-term lease in place and (are) an excellent complement to our shopping center tenants,” said Betsy Keck, the company’s director of public relations. LeBeau said developers hope to submit architectural drawings for the Medley project by the end of January.
So, in the end it really is a math problem. Unfortuantley, COMIDA is looking at one side of the equation.
Related posts:
- COMIDA - Paul Haney points to the folly of giving Brighton Lodging LLC tax abatements
- COMIDA is really complicated and all you little people must not get it
- Empire State Development Zones and COMIDA fund job cuts
- More COMIDA giveaways - Christmas comes early
- Brighton Lodging COMIDA benefits award crashes and burns
mostly comida is about moving jobs not creating them.
Like moving them to Greece tax dodge er canal park for example from somewhere else in the city or county. It mostly political cover. If we have created so many jobs (as claimed) then we should be very prosperous. It has been pointed out a number of times on this blog, but 4 out of 5 researchers say tax breaks are a wash at best.