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Did Cisco fail to create new jobs for the tax breaks it received?
Wed, 04/07/10 - 11:59pm    Add your comment

CiscoJamie EldridgeAccording to a Boston Herald report:

Massachusetts State Senator - Jamie Eldridge, has been working on legislation that would hold Cisco accountable for not achieving the number of new jobs it promised in exchange for the tax breaks it received to do so, since Cisco built a campus in Boxborough, MA (which is located in Eldridge's voting district):

"The promised jobs never materialized, and there was no ability for the state to recapture the lost money."

Eldridge continued, "We want to know if corporations are creating these promised jobs and, if not, the state should be able to take back those tax incentives. We can't manage what we can't measure. We need more transparency so the public knows the value of these tax expenditures at a time when budgets are being cut."

To hold Cisco accountable and responsible for creating the new jobs it promised in exchange for the tax breaks Cisco received, Eldridge has drawn up an amendment to the Economic Development Reorganization Bill (S2345):

An Amendment Relative to Economic Development, Transparency and Fiscal Accountability

Cisco has not responded to a request from me or the Boston Herald to supply the numbers that support Cisco's tax breaks in Boxborough, Massachusetts.

Note: Back on March 12, 2009, I initiated and developed the sources for the groundbreaking Network World report:

Cisco quietly downsizing through outsourcing

"When Cisco celebrated the fifth anniversary of its New England Development Center in Boxborough, Mass., last fall - a ceremony attended by Massachusetts Congresswoman Niki Tsongas and a representative from Gov. Deval Patrick's office - the company was quietly preparing to move several jobs from there and other locations to contractors in India and elsewhere, mostly in the company's Network Management Technology Group (NMTG)."

What's your take, do you believe Cisco created the new jobs it promised for the tax breaks it received?

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