Corporate Subsidies: Is Wellesley Getting Its Money's Worth?
In a recent NY Times Study examining the nation's corporate tax breaks and grants, Wellesley is getting a fairly small one. What do you think? Are these worth it?
Some of your tax dollars are going to a company researching cancer medicine in Wellesley. Every year, $2.26 billion goes to corporate subsidies in Massachuestts, according to a recent New York Times study looking the money spent by local governments in grants and tax breaks. Nationally, $80.4 billion goes to 1,874 programs. Grants and tax breaks make up some of what are referred to as subsidies. An accompanying NY Times piece says the study painted a picture of town and state officials looking to create jobs by creating subsidies, i.e., providing some kind of assistance companies to entice them to the town. Of that $2.26 billion, some of it is coming to Wellesley: in 2010, $140,000 was given in the form of a corporate income tax credit…
