* The Tribune has an interesting story about efforts to reform the state’s EDGE tax credit for businesses…
A case in point is Motorola Mobility, which laid off more than 1,000 workers in 2012 and fell below its requirement to retain at least 2,500 jobs but was still eligible for a tax credit worth about $11 million, according the state’s corporate accountability website and data the newspaper obtained for 2012, the latest year available, under the state’s Freedom of Information Act.
William Moss, a spokesman for Motorola Mobility, said the EDGE credit is assessed and disbursed quarterly, allowing the company to draw a credit for the quarters it meets its job retention commitments; the company is the only one allowed to draw credits quarterly, according to a spokesman with the Department of Commerce and Economic Opportunity, which administers the program. And it doesn’t have to create a single job, according to its contract with the state.
“In August of 2012, we underwent a staff reduction that took us below 2,500 employees in the state, and, as a result, in (the third and fourth quarters), we did not request nor did we receive EDGE credits,” Moss wrote in an email.
Go read the whole thing.