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Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
Upjohn Institute Working Paper No. 12-187
Verlag: 
W.E. Upjohn Institute for Employment Research, Kalamazoo, MI
Zusammenfassung: 
This paper estimates the effects of an R&D tax credit in the state of Washington on job creation. The research uses micro-data on the job creation and tax credits received by individual firms in the state of Washington from 2004 to 2009. We correct for the endogeneity of R&D tax credits received by individual firms by using instrumental variables based in part on national industry factor shares for R&D. We estimate that this tax credit created jobs, but at a high cost. The cost per job-year created is estimated to be between $40,000 and $50,000. The credit was so high cost in part because the credit was non-refundable. As a result, about one-quarter of the firms receiving credits were maxed out on credit eligibility, so that the credit provided no marginal incentive for additional R&D spending or job creation.
Schlagwörter: 
R&D tax credits
business incentives
state economic development policies
job creation
JEL: 
R38
H71
J23
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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