Wed
Feb 22 2012
09:18 pm

Moving things around and calling it new.

From MSNBC ...

But it's not always clear how many positions are actually created, rather than just poached and shuffled around

"You don't have to be a mathematical wizard to figure out that's never going to pay for itself," said Peter Fisher, research director of the Iowa Policy Project, a think tank that has estimated the value of Von Maur's incentives at $18 million. "It's simply not economic development. You are moving a store from one place to another. It doesn't do anything to increase the economy of Johnson County."

California Gov. Jerry Brown last year eliminated tax-increment financing when he signed a bill closing 400 redevelopment agencies.

Article

bizgrrl's picture

This used to drive us crazy

This used to drive us crazy down in the Orlando, Florida, area. Orange and Seminole counties were all the time providing incentives for companies to move from one county to the other. It's crazy.

R. Neal's picture

I've said before that a lot

I've said before that a lot of these deals are shell games. Every state and municipality should just get together and say "enough already" and stop offering these insane incentives. Then everyone can compete on workforce, education, infrastructure, taxes, etc. instead of who has the most gullible taxpayers.

gonzone's picture

The great invisible hand of

The great invisible hand of the free market should smack the hell out of these folks who do these stupid tax incentives.

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