Public disclosure of tax subsidy programs is improving generally, but more than a third of state economic development agencies still keep deals secret as they lure big business.
That’s according to an April 2022 study by Good Jobs First, which reported that 62% of agencies that administer business incentives disclose reasonable information about companies receiving tax benefits. That’s up from 55% that received a passing grade in 2014.
The latest report found that 38% of state incentive programs failed the transparency test. Alabama and Georgia received the worst marks, providing “no meaningful disclosure,” according to Good Jobs First.
“Transparency has been growing — across the country and over time — and that’s a good thing. However, there is room for improvement,” said Kasia Tarczynska, study co-author and a research analyst at Good Jobs First, told Bloomberg Tax.