Atlanta, GA -- October 22, 2011
State lawmakers are considering a new jobs program that could cost Georgia up to $125 million to help encourage small business growth.
The Atlanta Journal-Constitution reports (http://bit.ly/nL4R9N )
that state Rep. Ben Harbin, a Republican from Evans, wants to
generate long-term, sustainable jobs for the state by creating a
CAPCO investment program where a firm sanctioned by the state
invests in small businesses.
The firm would use money from insurance companies, which would
get state tax credits and some return from the CAPCO for participating.
Critics of the program say it's a scam that has cost other states $2 billion over two decades. A state senator in Wisconsin, where a similar program has drawn fire, called the program a scam.
Other states, like Colorado and Florida, have had problems with
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