July 11, 2007 |
Filmmakers who shoot in Pennsylvania could get an eight-fold increase in tax incentives in the state budget agreement reached Monday. But the $80 million package, one of the most generous in the country, wasn't what film boosters had sought. They wanted unlimited incentives. Sharon Pinkenson, head of the Greater Philadelphia Film Office, was looking on the bright side. "I woke up saying to myself, 'Last year, we had $10 million. This year, we'll have $80 million to bring jobs, films and movie business to Pennsylvania,' " Pinkenson said.
June 4, 2000
Merck & Co. collected more than $5 billion in profits last year. Nationwide Financial Services has posted five straight years of record earnings. The Vanguard Group manages more than $500 billion of other people's money. So why are Pennsylvania taxpayers subsidizing all three? That's what Gov. Ridge says he needs to do to persuade big employers to locate, expand, or remain in Philadelphia's busy western suburbs. If Pennsylvania doesn't pay, other states are eager to do so, Ridge said Thursday during a visit to the new headquarters of Nationwide's Villanova Capital Group affiliate in Miquon, Montgomery County.
December 19, 2015 |
New Jersey lawmakers want to give more tax credits to businesses that agree to move to areas around the state's colleges and universities. The bill was first introduced in 2005 and has been reintroduced every session since. On Thursday, it was approved by the Assembly. Since the Senate passed it last week, it now goes to Gov. Christie's desk. It would create "innovation zones" in areas around campuses, giving tax incentives to companies that move there. Advisory boards would decide what types of industry to support in each zone.
September 13, 2014 |
Gov. Christie on Thursday asked the Legislature to beef up tax incentives for non-gambling projects in Atlantic City as part of an economic development bill. He conditionally vetoed the bill, passed by the Democratic-controlled Legislature in June, which would revise the state's economic incentive programs. Under Christie's revisions, non-gambling businesses in Atlantic City would be eligible for many of the same incentives as those in other poor cities, such as Camden. "Similar to Camden and other targeted cities in New Jersey that are in need of economic rejuvenation, I am recommending that non-gaming development projects and private-sector job growth in Atlantic City be eligible for the strongest possible incentives," Christie wrote in his conditional veto message.
July 8, 2013 |
TRENTON - When Gov. Patrick Quinn of Illinois signed legislation in 2011 raising the state's corporate income tax by two-thirds, Gov. Christie was quick to react. He vowed to travel to Illinois to persuade businesses there to relocate to the Garden State, even though New Jersey's corporate income tax was nearly the same. Hard-fought interstate trade wars have always been part of the landscape for governors and state legislators, who boast about the competitive merits of their states as they battle for jobs.
April 16, 2012 |
A new report by the Pew Center on the States takes aim at how states use tax incentives to convince and cajole businesses to expand, relocate or just plain hire more people. It's like shooting marlin in a coffee can. The point Pew makes is a familiar one: Officials in all 50 states spend billions of dollars annually on tax incentives, but half cannot say with any precision whether it's money well-spent. Researchers identified 13 states, including New Jersey, as "leading the way" in assessing their economic-development programs and evaluating their impact.
September 22, 2011 |
WHILE UNEMPLOYMENT continues to hover at 9 percent throughout the nation, Philadelphia has an 11 percent rate, as more than 72,000 residents are jobless. In light of a recent report from the U.S. Conference of Mayors projecting "1 in 7 metropolitan areas are unlikely to see prerecession job levels until 2020," creating jobs must be a top priority for City Council and the mayor. Providing tax incentives that entice businesses to create new jobs is a key ingredient to turning our economy around, and it can't come soon enough for the 72,000 Philadelphia families struggling to make ends meet during one of the worse economic downturns since the Great Depression.
November 30, 2001
WHILE THE mayor and the governor are behind closed doors trying to hammer out a reform plan for the schools - we hope that's where they are, anyway - a 93-page report released earlier this week has the potential to have an even more profound impact, not only on the state of the schools, but on the future of the city and region. This week, City Controller Jonathan Saidel called for dramatic tax reform that would reduce the wage tax, cut the business privilege tax and reconfigure the property tax. There hasn't been this much talk of tax cuts since George W. was campaigning.
April 16, 1994 |
Mayor Rendell, releasing a 13-point plan for rebuilding America's battered urban economies, said yesterday that creating 75,000 new jobs in Philadelphia would do more to fight crime, drugs and homelessness than 1,000 new police officers. Eschewing cities' tradition of asking Washington for massive infusions of aid, the plan Rendell presented at a news conference relies primarily on federal tax and regulatory incentives to help cities attract companies, create jobs for those with low skills, and begin rebuilding their devastated tax bases.
February 6, 1995 |
More than $50,000. That's what Lanxton Washington says the wage-tax credit offered in the city's empowerment zone will save his West Philadelphia security firm in labor costs over the next 10 years. "It's attractive," Washington says. "I think it's going to work. " He's also eyeing another empowerment zone perk - tax-exempt bond financing - for the possible expansion of his 7-year old business, L. Washington and Associates, located in the zone at the Philadelphia Business and Technology Center, 5070 Parkside Ave. More than $38,000.