How Companies Can Benefit from the Evolving Economic Development Incentives Landscape
States, local governments and other entities currently spend up to $90 billion per year to influence where companies locate their operations.
Incentive packages in the form of tax credits, grants, subsidized staff training, streamlined permitting, creative funding options and more help businesses offset the substantial costs of establishing a new operation. In return, the government entities expect that the resulting economic benefits (jobs, capital investments, tax revenue, etc.) will more than pay for the cost of the incentives.
The value of these economic development incentives has more than tripled since 1990, and it continues to increase. Yet many companies don’t realize the value from these economic development incentives as they should.