Press Releases

Study: State and Local Governments Pay $2 Million per Job to Tech Giants for Data Centers

Washington D.C., October 11, 2016 – States and localities are giving cash-rich tech giants an average of $2 million per job for data centers the companies must build to run “the cloud.”  Indeed, the companies are so aggressive playing states against each other that more than half the states have even enacted new data center-specific tax break programs. But the companies actually care most about cheap electricity and stable settings, not taxpayer subsidies. Public officials  should cap data center subsidies at $50,000 per job and be ready to walk away from bidding wars that guarantee net losses for taxpayers. 

Those are the main findings and recommendations of Money Lost to the Cloud: How Data Centers Benefit from State and Local Government Subsidies, a study released today by Good Jobs First.  It is available at http://www.goodjobsfirst.org/datacenters.

Violation Tracker Expansion Highlights Fraud by Healthcare Companies and Banks

Washington, September 26, 2016—Since the beginning of 2010, drug manufacturers, hospital systems, insurers and other healthcare companies have paid nearly $7 billion in fines and settlements to resolve cases in which they were accused of defrauding the federal government. Banks, led by Wells Fargo, account for the second largest portion of False Claims Act penalties, with more than $3 billion in payments. More than one-third of the 100 largest federal contractors have been defendants in such cases during the seven-year period.

These are some of the key findings that emerge from an expansion of Violation Tracker, a database of corporate crime and misconduct produced by the Corporate Research Project of Good Jobs First. It is available to the public for free at http://www.goodjobsfirst.org/violation-tracker.

Good Jobs First Submits Comments to SEC on Disclosure Rules

Good Jobs First submitted the following comments to the SEC:

July 21, 2016

Mr. Brent J. Fields, Secretary
Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549-1090

Re: File No. S7-06-16, Business and Financial Disclosure Required by Regulation S-K

Dear Mr. Fields:

Violation Tracker Documents Wide Variety of Misconduct by Big Banks

Washington, DC, June 28, 2016-- Since the beginning of 2010, two dozen major U.S. and foreign-based banks have paid more than $160 billion in U.S. penalties to resolve a wide range of cases brought against them by the Justice Department and federal regulatory agencies. Bank of America alone accounts for $56 billion of the total and JPMorgan Chase another $28 billion. Fourteen banks have each accumulated penalty amounts (both fines and settlements) in excess of $1 billion, and five of those are in excess of $10 billion.

Subsidy Tracker Reaches Milestones

Washington, DC, May 18, 2016 -- Documenting that corporate welfare has become a commonplace and expensive practice, the first national database of taxpayer-funded subsidy awards to business today reached two significant milestones: The latest expansion of Good Jobs First’s Subsidy Tracker brings the number of entries to 500,000 with a total value of more than $250 billion.