“These (CAPCO funds) are actors who consistently exploit the taxpayers and exploit these programs that are intended for stimulating the economy,” said Julia Sass Rubin, a professor at the Edward J. Bloustein School of Planning and Public Policy at Rutgers University whose research includes equity capital and economic development. “They manage to pocket the subsidy and to lobby for more.”
The CAPCO groups’ new concept for Tennessee, which would have targeted rural areas, is no longer on track to be filed this year. While the state has avoided this legislation in 2016, these funds could resurface in the coming years.