Tag Archives: economic development

Study Finds Little Evidence That Firm-Specific Economic Development Subsidies Work, but That Doesn’t Mean They’re Unnecessary

Study Finds Little Evidence That Firm-Specific Economic Development Subsidies Work, but That Doesn’t Mean They’re Unnecessary

We are stuck in a sort of arms race. Every year the pile of billions states and local communities offer for economic development subsidies gets bigger, as local leaders try to stand out from the pack, and none dare stop lest their community get left in the dust. Continue reading…

Politician Inadvertently Illustrates Why Economic Development Incentives Are Dumb Public Policy

Amazon has been causing quite a stir with its announcement the building of a new, two-campus east coast headquarters to be located in Virginia and New York. Those states lured the company in with hefty economic development incentives and – hold on to your hats – I find myself agreeing with newly-elected Democratic congresswoman and

Audio: Lawmaker Says There Has Been Little Accountability for North Dakota’s Economic Development Programs

“I was amazed at how many incentives are on the books,” state Rep. Jason Dockter told me yesterday during an interview on my radio show (audio below). Dockter chairs the Legislature’s interim Political Subdivisions Taxation Committee which was tasked by legislation from the 2015 session with reviewing the state’s economic development incentives. When the new

Controversy Over Fargo’s FedEx Tax Break Shows Need for Reforming Economic Incentives

Last night Fargo City Commissioner Tony Gehrig lost his push to rescind over $600,000 in property tax incentives granted to parcel delivery giant FedEx after the company announced they were moving some of their operations to that city from Grand Forks. Gehrig may have lost that vote, but the last laugh may yet be his. When Gehrig got

Ban Tax Breaks for Businesses Moving Within the State

“Lawmakers should ban incentives for companies that move from one North Dakota community to another—because when it comes to within-the-state shifts, incentives always wind up with this result: Taxpayers lose,” writes Tom Dennis in an editorial for the Grand Forks Herald today. He’s right. [mks_pullquote align=”right” width=”300″ size=”24″ bg_color=”#ffffff” txt_color=”#000000″]Do we really want to open the

Business Models Based On Harvesting Tax Dollars Don't Often Succeed

It seems that a cornerstone of modern economic thinking is the idea that local governments – counties, cities, states, etc. – should be in the business of bribing businesses to come into their area. Things like special tax exemptions, taxpayer-backed financing, and even outright gifts from the public treasury are a common theme in these

From The Left: There Is Still A Place For Economic Development In North Dakota

It is obvious to everybody that the state of North Dakota has a very healthy economy right now. Our unemployment is about 1/3 of the national average and we have tens of thousands of job openings.  We currently have a state that has seen the North Dakota Office of Management and Budget’s underestimate the size

Report: ND ranks low in transparency for economic-development programs

BISMARCK, N.D. — State economic development programs got one of the worst ratings in the nation, according to a new report from Good Jobs First, which describes itself as “a national policy resource center for grassroots groups and public officials, promoting corporate and government accountability in economic development and smart growth for working families. ”

Jamestown Chamber Of Commerce Members Oppose Subsidies For Big Box Retail

“This town blocked a Walmart — and it was a victory for economic liberty,” read the headline for a Tim Carney column at the Washington Examiner. Carney’s column describes a town in Missouri that decided not to dole out economic development favors for Walmart. “If you want to buy and develop property that exists, you