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Mon July 2, 2012
Mo. job incentive program comes up short
A new audit says Missouri officials have overstated the economic impact of the state's main job incentive programs.
The report released Monday by Auditor Tom Schweich focuses on the Quality Jobs program, which provides tax breaks to businesses that add jobs with decent wages and health insurance.
Schweich says the projected jobs and investment reported by the Department of Economic Development has significantly overstated the amount of jobs actually created and the amount of money actually invested by businesses to improve facilities and equipment.
The department provided a written response rejecting virtually all of Schweich's conclusions and recommendations. The department highlighted that the original figures are merely good-faith estimates by the companies, and it said it strives to provide accurate information on what actually occurs.