Tax incentives fail to attract businesses, causing revenue loss and service erosion.
State tax incentives in New York aimed to attract and keep businesses, but a study found they don't play a big role in business decisions to move. The study listed ten reasons for this. Tax incentives were criticized for reducing revenue and public services, but politicians still like them. The study suggests better tracking of lost revenue and regular checks on how well the incentives work. Relying heavily on tax policy for economic growth may not work as well as some think.