NY is a loser here. But as a whole, this will probably have no net effect on jobs in the United States. So it depends on the framing of the issue; local or national.

On the national level, competition by localities for companies to locate in their jurisdiction is just a race to the bottom. Dallas takes from Buffalo and pays millions of dollars in tax incentives to do so. Boston takes from Providence and pays millions of dollars in tax incentives to do so. What is the result of this? On the local level, some cities are winners and some are losers. On the national level, there is no change in net employment but there is now less tax revenue. So I don't support domestic competition for jobs by localities.

Crony capitalism may be the wrong term, but it is a huge subsidy to corporate interests when the US as a nation gains nothing.

And I actually agree that the government should be investing more in the future of an economy, but I think this kind of subsidy is a very stupid way to do it. A lot of the investment gains are going to capital, and I am not a huge fan of supply side economics. Use the money to invest in basic research. Use the money to invest in workforce development programs. But using the money to pay capital does not seem to be the way to do it.

And if it is often a bad deal on subsidy per jobs created. The Foxconn debacle in WI was hundreds of thousands of dollars per job created.