$$$ Incentives for business relocation

More and more today I read about states such as SC, TN, AL and others offer financial incentives to companies in order to land plants, faciliaties, headquarters and basically jobs. Of course, it isnt just a southern thing since MI has done this as well. However, what are the downsides to offering taxpayer-funded incentives to businesses? It seems to me that most companies, at least today, are "carpet bagging" if you think about it.

For instance, TN, offered hundred of millions of dollars to land the new VW plant. But at what expense to other segments such as infrastructure, schools, and services? I mean, VW could pull out 15 years down the road and for what?

So, what are the downsides to using public funding to land private business?

Quick clarification...tax breaks [[not outright layouts of tax dollars) are a tremendously good idea as an incentive to attract business not just at the State level, but federal also. As corporate taxes are just disguised individual and consumer taxes, abolish them altogether.