Many Jobs Bankrolled by Taxpayer Investments Now Gone

A review of state records by the Nashville Business Journal shows that a sizeable chunk of jobs created through grants to businesses have disappeared.
Tennessee, through its FastTrack grant program, paid companies $27.3 million between 2008 and 2010 to train more than 6,200 new workers. By 2011, about 3,400 of those jobs — which the state invested in at an average of $4,388 a piece — were gone. If the dozens of companies that received that cash were required to give back the money, they’d owe the state about $15 million, our analysis found.
Likewise, companies that received $74.2 million in state infrastructure grants between 2006 and 2010 would owe the state nearly $21 million for the more than 4,000 jobs — an average of $5,246 apiece — that no longer exist.
In Middle Tennessee’s seven counties, companies moving and expanding in the region between 2008 and 2010 got nearly $20 million — or $9,963 per job — to train roughly 2,000 new workers. By 2011, 585 of those jobs remained, representing a loss of nearly $14 million to the state.

One thought on “Many Jobs Bankrolled by Taxpayer Investments Now Gone

  1. Eric Holcombe

    So why do Republicans and Good King Billy think this is a good policy to continue and further, to be kept “secret”?
    So we don’t know who stole the millions?

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