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The IEDC is a joke.
This is a lot of Hoosier tax payer’s money, and still irritates me that the legislature and IN Chamber raised the cigarette tax by $20 per carton (10 packs) that was projected to raise $2 Billion per year on 15% of the tax paying population, when it’s been shown was totally unnecessary.
Part of the reason for the cigarette tax increase was to get people to quit so that healthcare costs in the state come down…so that more employers will move here. It’s part public health policy, part economic development, and part long term cost avoidance more than revenue generation. The only way that has to do with the IEDC is that they hear from companies that might want to move here about Hoosiers’ smoking rate and general bad health…and the Legislature agreed.
The three most important words are missing from the article, or i missed them: Return on Investment. If IEDC can prove there was a great return, then the incentives worked. If not, money to those who need it least.