States are doling out more cash than ever to lure multibillion-dollar microchip, electric vehicle and battery factories, inspiring ever-more competition as they dig deeper into their pockets to attract big employers and capitalize on a wave of huge new...
The subsidy offers are generally embraced by politicians from both major parties and the business elite, who point to promises of hundreds or thousands of jobs, massive investments in construction and equipment, and what they contend are immeasurable trickle-down benefits.
The mounting cost of competing for the projects hasn’t dissuaded states from trying. On the contrary, they’re clambering to outdo each other. In his first budget speech to lawmakers, newly inaugurated Gov. Josh Shapiro said Pennsylvania needs to “get in the game” and warned that it would take money. The aim is to procure huge plots of land with ready-made utilities. That has elicited protests from conservationists who say the state mishandled developable land and agricultural groups that warned of the permanent destruction of high-quality farmland.
In Texas, Gov. Greg Abbott promised to win passage of “economic development tools” during the current legislative session, saying the state lost out on a massive Micron semiconductor plant because it couldn’t match the $5.5 billion in tax credits offered by New York.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
'War of the states': EV, chip makers lavished with subsidiesStates are doling out more cash than ever to lure multibillion-dollar microchip, electric vehicle and battery factories, inspiring ever-more competition as they dig deeper into their pockets to attract big employers and capitalize on a wave of huge new projects
Les mer »
'War of the states': EV, chip makers lavished with subsidiesStates are doling out more cash than ever to lure multibillion-dollar microchip, electric vehicle and battery factories, inspiring ever-more competition as they dig deeper into their pockets to attract big employers and capitalize on a wave of huge new projects. Georgia, Kansas, Michigan, New York, North Carolina, Ohio and Texas have made billion-dollar pledges for a microchip or EV plant, with more state-subsidized plant announcements by profitable automakers and semiconductor giants surely to come. The projects come at a transformative time for the industries, with automakers investing heavily in electrification and chipmakers expanding production in the U.S. following pandemic-related supply chain disruptions that raised economic and national security concerns.
Les mer »
'War of the States': EV, Chip Makers Lavished With SubsidiesStates are doling out more cash than ever to lure multibillion-dollar microchip, electric vehicle and battery factories, inspiring ever-more competition as they dig deeper into their pockets to attract big employers and capitalize on a wave of huge new projects.
Les mer »
California May End Travel Ban to States With Anti-LGBTQ LawsA California lawmaker wants to end a ban on state-funded travel to states with discriminatory LGBTQ laws.
Les mer »
U.S. Department of Energy's Strategy to Advance Offshore Wind Energy in the United States - CleanTechnicaAdvancing Offshore Wind Energy in the United States, U.S. Department of Energy Strategic Contributions Toward 30 Gigawatts and Beyond,
Les mer »
These are the states with the highest and lowest tax burdens, a report saysThis year’s federal tax filing deadline of April 18 is quickly approaching, and Americans generally pay some mixture of federal, local, and in most cases, state taxes. But the tax burden of some states significantly outpaces others, data shows.
Les mer »