23 June 2011

High technology, not low taxes, may drive states' economic growth

High-tech training may trump tax breaks for creating more jobs and improving a state's economy, according to a team of economists.

"We found that lower state taxes were not statistically associated with a state's economic performance," said Stephan Goetz, professor of agricultural economics and regional economics, Penn State. "The tax climate was not linked to either growth or income distribution."

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