State Governments Promised Private Companies More than $10 Billion in Subsidies Last Year

Governments often make deals with private companies, offering generous subsidies to encourage development in their respective states. The year 2023 was unfortunately no exception.

According to a new report from Good Jobs First, a watchdog group that tracks economic development deals, 16 states promised more than $10 billion to private companies last year. The group counted 23 "megadeals," which it defines as any agreement involving at least $50 million in subsidies to a private company.