A big problem is that it is that the benefits are rarely measured. It's assumed that it'll be worth it and never revisted. (http://www.nytimes.com/2012/12/02/us/how-local-taxpayers-ban...)
I just find the idea that private businesses are "taking advantage" of governments with these agreements. Really? A private company is pulling the wools over a sovereign power with the ability to create and enforce it's own laws?
See race to the bottom. Companies simply shop around for a set of tax breaks that doesn't come with strings attached.
> A private company is pulling the wools over a sovereign power with the ability to create and enforce it's own laws?
You mean people with money are influencing elected officials who need their money to win elections.
But they are taking advantage of a bunch of things; local governments inability to govern certain areas (whether due to state or federal laws) or that the mayor is thinking about election time and who would say jobs are bad?