Thursday, August 5

Small businesses losing out in subsidy game: Survey

From CNBC.

92 percent of small business owners believe their state’s economic development incentives are biased toward big business.

States spend billions of dollars every year to attract and retain businesses and jobs, but owners of small businesses overwhelmingly believe they are getting the short end of the stick.

That is one of the findings in a new survey by Good Jobs First, a nonprofit, nonpartisan think tank that has been critical of state business subsidies in the past. The group said it surveyed 39 organizations representing 24,000 small businesses nationwide.

Respondents “overwhelmingly believe that state economic development incentives favor big businesses, that states are overspending on large individual deals, and that state incentive programs are not effectively meeting the needs of small businesses seeking to grow,” the study said.

Continue reading at CNBC.