When state and local governments hand out tax credits to developers and businesses, nearby residents often rejoice. Who doesn’t like new local jobs and shiny new buildings? But this perpetual tax credit “tug of war” has no winners as all it serves to do is line the pockets of the receiving business, while the rest of us foot the bill for their lost tax revenue. The Post Dispatch had a good articlre on topic a couple months back that is worth a read.
Area stunts growth by feeding on itself via STLtoday.com