2004 Findings

1. Average job creation was approximately $41,000 per job gained - 17% over the federal government's limit and varied greatly between development agencies and companies;
2. In the November 2004 report from the Department of Economic and Community Development (DECD), 29 companies never responded to the survey requested by DECD regarding their job creation and retention effort - the amount of subsidies to these companies alone is $28 million;
3. As of the latest agency reports through June 30, 2004, 435 companies, or 43% of the total, had gained fewer jobs than they projected when applying for a subsidy;
4. As of June 30, 2004, 440 companies or 43% of the total, were below their employment levels at the time they applied for a state subsidy;
5. Thirty two companies cost the state $100,000 or more per job gained. These companies received 56 million in total public fund subsidies, which was 12% of the total subsidies provided over the entire time period;