From the press release:
A performance audit of four business tax incentive programs found that the goals Nebraska legislators stated for the incentives were too vague to permit useful evaluations of the programs, according to a report released Monday by the Legislative Performance Audit Committee. Businesses that qualified for incentives under the Nebraska Advantage Act—the major program of the four reviewed—used nearly $76 million in tax refunds and credits between 2008 and 2011, and earned as much or more in additional tax credits that had not yet been used, according to the report. Yet, whether these amounts, or key data from any of the other three programs, mean that the incentives are doing “’enough’” or that program costs are “’appropriate’” cannot be judged….
The audit also found that:
• The estimated cost-per-job for jobs created under the centerpiece Nebraska Advantage Act ranged from $42,747, considering only compensation tax credits, to $234,568 considering all earned benefits except the property tax exemption….
Nebraska spends up to $235,000 per job in tax incentives, audit report says
Source: Deena Winter, Nebraska Watchdog, February 11, 2013