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Businesses Benefit, But Others Suffer From Local Tax Breaks

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Two studies released by Ball State University in recent weeks call into question a long-standing, and expensive, strategy that communities throughout the state have used in hopes of creating jobs. Monroe County and the city of Bloomington spend hundreds of thousands of dollars a year on the strategy, which involves giving local tax breaks to companies that are new to town. Those companies, in turn, are expected to create new jobs, therefore decreasing the local unemployment rate and improving the local economy. But the study out of Ball State suggests the tax breaks for business are not creating many jobs, and they’re actually increasing the tax rates for regular taxpayers. Assistant News Director Joe Crawford spoke to one of the authors of the study, professor Michael Hicks, for today’s WFHB feature exclusive.

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