State’s '21st Century Jobs Fund' Spent $100 Million For Just 1,052 Jobs

State’s '21st Century Jobs Fund' Spent $100 Million For Just 1,052 Jobs [Michigan Capitol Confidential]:
"The state’s 21st Century Investment Fund (CIF) has spent nearly $100 million on various types of subsidies and other forms of involvement in businesses since 2006, yet only 1,052 jobs have been created or retained because of it, according to the fund’s 2015 report.
In addition, some investment groups received millions through the fund but created zero jobs and no proceeds.
The state describes the fund as a program that “encourages the growth of emerging Michigan companies, diversifies the state’s economy by creating and retaining knowledge-based jobs and grows a community of investors to create a long-term, sustainable capital ecosystem within Michigan.”
According to the report, $98.5 million in so-called “capital called for investments,” or money spent by the state, has been used for investments.
 "In 2005, policymakers deluded themselves into putting tax money into high-risk investments to pump up the economy," said James Hohman, the assistant director of fiscal policy at the Mackinac Center for Public Policy.
"Since then, there have been millions spent and little to show for it."
A number of examples are cited..."
Read on!