You're watching...
A look at how companies like GM are getting huge incentives and aid that's not being put to good use - and ripping off the American people
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
And tonight how warning that some of our nation's biggest companies may be.
Linking you the taxpayers major companies like GM taking advantage of all kinds of incentives and tax break from local and state governments.
But I -- communities meaning you the big losers.
-- times finance reporter Louise story first reported this news she joins -- nice to see Italy's best tea -- -- -- story these big -- -- -- huge breaks right.
Others -- huge break.
And in fact I added up across the country.
As comprehensive as I could it still missing some things but identified over eighty.
Billion dollars a year on spending for businesses and he's coming off forms there's sales tax exemption -- there's cash grants there's.
Tax credits there is free buildings free roads worker training but it's really -- big tab.
Now than we might communities do that is expected -- give a company of breaks a company that comes in a builds a factor keep its keeps its factory there.
And presumably they'll be jobs.
That's right they do it for jobs that you know why else they do it.
They do it because everyone else is doing and so I interviewed mayors and governors and economic development people all over the country with a lot of toll is.
We wish we didn't have to -- -- taxpayer money.
We wish we didn't have kids but weren't competing with the neighboring city work competing with the neighboring state were all competing with each other so you've got to do it I -- -- how about we the unites in the text is build a GM a week and -- money's worth.
Well and that's right the federal government bailed out GM it was a huge bail us that that's the tax pairs over fifty billion dollars.
-- knew about the sort of transparent but I looked at -- local incentives from states and cities and counties.
Not so many people melodies because you there and they've given up all over and what I figured out was in the last five years it's another one point.
Seven billion dollars to GM from small towns and cities and states when it got budget crunch is going on so it's.
It's a lot of money it's one company and I looked at GM -- -- the nineteen.
Eighties and in fact they're number of towns that gave them incentives that they then eventually laughed and so those communities are pretty upset now I highlight why regular that's a great archive Doug and I looked at something -- is a member read a story about him is apple going to to North Carolina -- -- 47 million dollars with the tax breaks and they've built some in North Carolina for two produced with fifty jobs to be better off giving the 47 million dollars.
Like email what a lot of technology companies are -- these Davis planners and -- he got big consists -- servers running data.
You need a lot of workers there a monitor that it's not like and Otto factory apples and getting incentives -- they've also got about.
Forty million dollars in tax says.
Recently and you know the thing is that it's unclear that the technology companies in the long run are going to be a much better bet than the auto makers where -- lot of communities that feel like.
They got kind of rod deal the carmakers and it's every time we get a deal to accompany its revenue taxpayers have to come up with a -- look at the jobs and it ends up biting him -- -- -- -- -- story pages every thank you.
