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 projects
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. Jabbing a finger in the air, he brought the room to a standing ovation, saying: ”It’s time to compete again here in Pennsylvania!”are advancing legislation that would marshal $200 million in subsidies and loosen decades-old protections against urban sprawl.
“The money the state is putting up is so large that certain companies can’t afford not to look at it,” Sheehy said.
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