Economic Development Authority: ; Director Finds Study Unfair; Report Says Authority's Direct Loan Program Lacks Accountability

Summary

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A recent study that criticizes the state Economic Development Authority's direct loan program for an alleged lack of transparency and accountability is not a fair representation, the authority's executive director said.

The study, titled, "Money for Nothing: Do Business Subsidies Create Jobs or Leave Workers in Dire Straits?" was authored by Paul Miller of the West Virginia Center on Budget & Policy. It examined the state Economic Development Authority's direct loan program, the state Manufacturing Investment Tax Credit and the Economic Opportunity Tax Credit.

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Extract

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Economic Development Authority: ; Director Finds Study Unfair; Report Says Authority's Direct Loan Program Lacks Accountability

According to the study, none of the programs provide information using an online, searchable database; information about the number of jobs actually created is published belatedly or not at all; and the con...

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