Economic Richard McGahey writes about the difficulties in getting communities to think about economic development outside of using traditional means, like economic development incentives. He writes:
“Indeed, the Route Fifty story’s claim of places ‘reaching beyond traditional incentives’ is belied by the data. Good Jobs First (GJF), our most valuable watchdog of wasteful economic development subsidies, called 2022 a ‘mega-year for megadeals.’ GJF reports 2022 saw ‘eight economic development deals in which companies received at least $1 billion in subsidies—for a single facility.’ That’s ‘equal to the previous nine years combined.’ “…
Instead, what could draw companies to a region is the availability of a well-educated, skilled workforce, McGahey writes.
Read the full story at Forbes.