Credits cost more than $4,000 per new job
Four key state tax credits designed to promote economic development cost $43.9 million, or more than $4,000 per new job created, according to a just-released report by the state Tax Department.
The total value of new credit granted increased from R75.14 billion for the quarter ended September 2010 to R83.53 billion for the quarter ended December 2010, an increase of 11.17% when compared with the previous quarter, but 31.97% higher than a year ago.