Are Local Tax Incentives for Businesses Worth Their Cost?
For my senior thesis, I examined how cities react to economic decline. An all too common reaction by local governments is to offer more and more tax rebates and monetary incentives to try to attract large businesses. These incentives can range from sales, corporate, and property tax reductions, to guaranteed loans, and in some cases straight up cash. In total, local governments in the US spend $80 billion a year on business incentives. An article in the New York Times from 2012 paints a good picture of the problem. Now you may say, “Well isn’t it worth it in some cases for Continue reading Are Local Tax Incentives for Businesses Worth Their Cost?