The state will give up tax benefits (via abatements), but....will MORE than make up for them with the YUGE economic benefit of the folks who’ve jobs have been saved....that will be buying new homes, remodeling, Christmas shopping, sending their kids to community colleges, etc, etc.
The problem with this argument is that the state is already getting the benefit of those people being employed.
The state will now get $7M less in revenue but no new jobs. Unless the state cuts services that is a $7M tax increase on the citizens.
It may well be that this is better than the alternative of letting the jobs leave, but it certainly isn't without cost.