City’s are not generally profitable as they have real expenses that scale ~1:1 with population. A 10% discount might be a net gain, but a 66% discount is a sure loss. So, for a company to actually generate 150M in taxable activities it would use far more than 50M worth of city services. Resulting in a net negative return.

Politicians benifit from concentrating upsides while defusing downsides. They can point at X jobs, while ignoring the long term issues.