Patrick Halpin

Study: Babylon IDA tax cuts spurred $600M in activity

Take a bow, Babylon Industrial Development Agency: You leveraged just $6 million in tax incentives into nearly 100 times that in economic activity, and created some 10,000 new jobs, in just five years. So says “Investing in Babylon: A Study of Babylon’s Economy to Plan for the Future,” a 45-page dissertation following 80 transactions incentivized by the Babylon IDA between 2011 and 2015. The economic impact analysis, conducted by the agency in conjunction with the…