Who Gets Tax Credits? Distribution of Tax Credits Issued by the Department of Economic Development Since 1999
Over the last few months, Bruce Stahl and I have been compiling data from the Department of Economic Development (DED) to determine how economic development tax dollars managed by the Department are distributed geographically in Missouri. A full case study is forthcoming on the topic, including regional, city, and city class breakdowns, as well as relevant tax data.
Until then, a preview: the county-by-county breakdown of DED tax credit issuances since 1999. The chart encompasses over $2.3 billion in taxpayer money. Population numbers are taken from the 2010 U.S. Census.
Had tax credits been distributed in line with population, each resident would have received the equivalent of $392.53 in tax credit issuances over that time. Six of Missouri’s 115 counties (114+St. Louis city) received at or above this amount. Saint Louis city projects were issued the greatest number of these tax credit dollars, coming in at $1,075,720,353.70. Several counties received none of these tax credits.
More to come.
(To find your county, hold CTRL-F, then type the name into the dialog box.)
I applaud this effort, but I think it would be better to use population estimates from multiple years, as in the American Community Survey. I’m curious, has the amount of tax credit spending increased per capita in St. Louis City as its population has fallen?
Comment by Thomas Duda — September 1, 2011 @ 5:42 p.m.
http://bookstore.icma.org/The_IndiKit_The_Municipal_Fin_P996C10.cfm?UserID=6642383&jsessionid=4e3031bc65b5295029f6
Comment by Thomas Duda — September 1, 2011 @ 5:44 p.m.
Hey Tom! Hope California’s treating you well. St. Louis’s distribution over time roughly reflects the flux of Missouri’s tax credit system generally. So, (roughly) bell curve line graph peaking around 2006 / steadily declining population = (roughly) bell curve tilted in positively through time. So short answer to your question: no, because overall tax credits have declined. That’s that study in an nutshell!
Comment by Patrick Ishmael — September 1, 2011 @ 10:15 p.m.
[...] incentive bidding wars that have companies being traded like baseball cards and have seen the state hemorrhaging tax dollars over the last decade. Simply state the reason why companies should stay in, and come to, Missouri clearly for all [...]
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