Learn more about the use of local economic development incentives through our Local Economic Development Training Course.
Although critics may view the use of economic development incentives as corporate welfare, local governments can improve the social welfare by supporting private economic activity. It is important that economic development organizations implement a consistent, objective process to evaluate economic development deals, using clear evaluation criteria to ensure the organization is using scarce economic development funds wisely.
The decision to offer incentives can really be thought of as a two step process.
Step 1: Should an incentive be offered to this firm?
Step 2: What is the appropriate value of the incentive?
Click on the links above to learn how economic development organizations can use incentives wisely.
