FY2023 TRI Overview
Key Findings
- Two TRI projects approved in FY2023
- Projects projected to create nearly 600 jobs with average wages of $52,484
- Expected capital investment of $625 million
- Five previously approved TRI projects announced, including Micron's $15 billion investment
- 89 TRI projects approved since FY2015, projected to create over 17,000 jobs
- Average project wage of $52,119 across all approved projects
Analysis
Small Business Perspective
The TRI program's requirements and outcomes demonstrate a clear bias against small businesses. The creation of hundreds of jobs and capital investments in the hundreds of millions are far beyond the capabilities of businesses with fewer than 20 employees. The focus on above-average wages, while positive for workers, creates a barrier for many small businesses operating on tighter margins. The lack of any mention of programs or initiatives for small businesses is telling.
Big Business Perspective
For large businesses, the TRI program offers substantial benefits. The ability to receive tax credits for creating high-wage jobs and making significant capital investments aligns perfectly with the capabilities and goals of larger corporations. The program's structure, focusing on projects that can create hundreds of jobs and invest hundreds of millions of dollars, is clearly designed with big business in mind. The mention of diverse industries benefiting from the program suggests a broad appeal to various types of large enterprises.