As NYS Attorney General, I would encourage each town, village, county and city to review each agreement with a private corporation in which any corporate subsidies were handed out to determine if the corporation failed to live up to any of its promises. As NYS Attorney General I would do this on behalf of any agreements involving New York State. When any failures to perform obligations by the subsidy recipient are found, a demand for appropriate repayment (perhaps 100% of the subsidy plus interest plus the costs of restoring the property to its former state) should be made, followed up by a lawsuit if necessary to collect whatever is due the government from a contractual standpoint. As long as subsidies have been given in exchange for some governmental objective, the government should enforce the agreement so that it does not become a total waste. Yet, in the long run, these subsidy agreements are generally not in the best interests of the government or country. They encourage the sale and resale of existing jobs and often wind up destroying the host communities in later years.
There are several excellent websites that are closely following this subsidy problem, and advocating that communities exercise their "clawback" rights (to recover subsidies when the recipient fails to perform at all or in full). The best website is Good Jobs First Website. [bad link] See GJF's article entitled "Reform # 2: Clawbacks, or Monebyback Guarantees" at Good Jobs First Clawback Article.