2006 Business Assistance Report

Overview
This report summarizes business subsidy agreements signed in 2005. Agreements signed in previous years are updated and summarized in the appendices.

The report is divided in three sections, non-JOBZ business assistance, Job Opportunity Building Zone (JOBZ) and Biozone business assistance. JOBZ assistance and Biozone assistance activity are summarized in Appendices (K-N). Project data is summarized for each year.

Non-JOBZ Findings
The activity levels and total value of non-JOBZ business assistance have varied significantly rom year to year as reported by state and local government agencies. There were 69 non-JOBZ business assistance agreements reported by government agencies in 2006 for 2005 activity, compared to 203 agreements reported for 2000 activity. The total value of business assistance provided has also varied significantly from year to year, from a total value of $612.3 million for 2000 activity to $17.8 million for August 1, 1999 and December 31, 1999.

2005 Non-JOBZ Activity
Of the 634 state and local government agencies that were required to file in 2006 either because of population size or previous business subsidy activity or current activity in 2005, 281 agencies submitted a MBAF and 353 agencies did not submit a form.

Of the 281 agencies that submitted a form, 53 agencies reported on 69 eligible business assistance agreements that were reached between January 1, 2005 and December 31, 2005. The $47.9 million of business assistance provided by those 69 agreements ranged from a $30,000 tax abatement to a $14.6 million TIF agreement.

Of the 69 business assistance agreements, agencies reported that 23 recipients (33.3 percent) had achieved all stipulated goals and obligations, compared with 46 recipients (67.percent) that have yet to achieve all goals and obligations. All agencies reported that recipients had more time to meet their goals and obligations. The total value of those 23 agreements was $4.2 million (8.8 percent) compared to $43.7 (91.2 percent) outstanding.

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Select this link to download the appendices