Butkovitzs report estimated, based on a complicated analysis of - TopicsExpress

Butkovitzs report estimated, based on a complicated analysis of wage taxes paid by the 193 KOZ beneficiaries with employees, that 3,700 new city jobs and $39.2 million in additional wage taxes could be attributed to the program. Each of those jobs came with what Butkovitz called a shocking price tag of $103,971 in tax credits. It would take roughly 52 years for each new job to pay itself off, assuming average annual pay of $50,000 and current wage-tax rates, Butkovitz said. Read more at philly/philly/business/20140320_City_controller_sees_small_return_on__Opportunity_Zone__program.html#06uSM2sYvYVxegWz.99

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