Cities and counties rely on job expansion to increase their tax bases. As competition for industrial and business growth tightens, our entities must have available viable and workable economic development tools available to attract new companies and to retain existing ones.
Some communities have lagged behind in creating valuable and necessary options or approaches that can serve as incentives to encourage location.
Such incentives come in varying forms and levels. Research shows that they must be localized ,targeted, and comprehensive. They should be designed to reward productivity by investments.
Economic incentives must always be flexible with effective criteria that can better insure both industry appeal and success. These processes can evolve and adapt to changing markets and circumstances.
Another important aspect of economic growth and stability is the availability of other community based resource components such as local training facilities and programs for workforce development.
Combined, these tools, when adopted and established, can be beneficial packages of resources to assist cities and counties with essential and critical pathways to business opportunities for the present and future generations.