Study Opposes Comcast Tax Subsidy10/18/2004 9:16 AM Eastern
Research group Good Jobs First released a study Monday claiming that a proposed tax subsidy in Pennsylvania for Comcast Corp. is not a good move.
In "Improving the Proposed Comcast Deal: Policy Options Based on Best Practices," the group found that “Pennsylvania residents would be better served by public policy that promotes real economic growth and development in the state's major cities, and not a plan that would give one company unneeded and substantial public subsidies, costing taxpayers tens of millions of dollars.”
The subsidy, a proposed amendment to the "Keystone Opportunity Zone" program, would provide state and local tax exemptions -- including property, business privilege and use and occupancy tax exemptions -- to Comcast for relocating its corporate headquarters to a new site in Philadelphia, just three blocks from its current location.
Those tax breaks would remain in effect through 2015, Good Jobs First said.
Good Jobs First is a national research group and clearinghouse on state and local economic-development practices.