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Bruno Ferreira is a contributing writer for Tom's Hardware. He has decades of experience with PC hardware and assorted sundries, alongside a career as a developer. He's obsessed with detail and has a tendency to ramble on the topics he loves. When not doing that, he's usually playing games, or at live music shows and festivals. ","collapsible":{"enabled":true,"maxHeight":250,"readMoreText":"Read more","readLessText":"Read less"}}), "https://slice.vanilla.futurecdn.net/13-4-20/js/authorBio.js"); } else { console.error('%c FTE ','background: #9306F9; color: #ffffff','no lazy slice hydration function available'); } Bruno Ferreira Social Links Navigation Contributor Bruno Ferreira is a contributing writer for Tom's Hardware. He has decades of experience with PC hardware and assorted sundries, alongside a career as a developer. He's obsessed with detail and has a tendency to ramble on the topics he loves. When not doing that, he's usually playing games, or at live music shows and festivals.
hotaru251 tax breaks shouldnt be a thing for giant corpo. They already legally rob the populace they dont need handouts. Reply
bigdragon I am so tired of private corporations receiving better benefits than individual US citizens. From data centers to stadiums, make the corporations pay their share of the burden. Reply
JamesJones44 The whole counting construction as jobs has gotten out of control. There is zero guarantee the construction corp(s) will need to hire anyone, yet these get counted as "job created". What's worse is they count the economic uplift from zero, but if all of the people working on this project already have a job, then there is almost zero local uplift while costing money in road wear and tear, lane closures, infrastructure repairs/upgrades, etc. It's honestly really sad these type of people get elected all the time with zero understanding of general economics, yet it's a key part of a politicians job Reply
Syntaximus Not a fan of this crap in general, but a correction here: Rockland County is NY State, it's right on the border, but it isn't NJ (source article). Reply
derekullo To be fair, this is what AI promised. Now the facility only needs one guy to ensure peak slop production! Reply
jp7189 Upfront incentives to attract longterm tax revenue without having to add tons of housing and burden to already overburden infrastructure like schools. What's the problem? Reply
bigdragon jp7189 said: Upfront incentives to attract longterm tax revenue without having to add tons of housing and burden to already overburden infrastructure like schools. What's the problem? That's how things are supposed to work, but that's not actually how they work in the real world. I live near a Lockheed Martin aerospace facility, large retailers, and several older data centers that constantly make plans to leave each time their tax incentives expire. They always threaten to put dozens to thousands of employees out of work and relocate to a state or county with lower taxes. Maryland usually throws a new or the same tax incentive at them to encourage them to stay. Meanwhile, the rest of us residents are here paying the tax burden and increased infrastructure costs these freeloading corporations aren't helping cover. The cherry on top is that most of these companies promise to create X number of local jobs and most of the incentives have job creation numbers as requirements. Then news will break that some number of jobs less than X were created, yet no penalties are applied. There have been a few times where a Walmart failed to get a new round of tax incentives, closed their store, and opened one nearby in a different jurisdiction with new tax incentives. Reply
Key considerations
- Investor positioning can change fast
- Volatility remains possible near catalysts
- Macro rates and liquidity can dominate flows
Reference reading
- https://www.tomshardware.com/tech-industry/artificial-intelligence/SPONSORED_LINK_URL
- https://www.tomshardware.com/tech-industry/artificial-intelligence/new-jersey-datacenter-expansion-got-usd77m-in-tax-breaks-to-create-exactly-one-permanent-job-jpmorgans-site-already-scored-usd35m-and-currently-employs-just-25-workers#main
- https://www.tomshardware.com
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Informational only. No financial advice. Do your own research.