Opinion | Pat Garofalo: Facebook's tax breaks are thoroughly undeserved. But local governments think they're worth it. - NBCNewsTHINK
from Altoona, Iowa, for construction of a data center, its fifth in the city. Instead of property taxes, it will get to make a lump sum payment that won’t total the amount it would have paid in property taxes.acknowledge that it hurts
local businesses, which don’t benefit from similar exemptions. It trades a short-term boost for construction contractors — because data centers don’t employ that many people -- for two decades of lower property tax payments, which directly affects the funding for the local school system. More fundamentally, it seems unnecessary to incentivize a company to build a data center in a location in which it already has several others.
The deal is also emblematic of a wider trend in which big tech companies pit cities and states against each other in order to receive subsidies, wielding the promise of “new economy” jobs in places the old economy left behind. Good Jobs First, which tracks corporate tax incentives, found
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