Attracting People Isn’t A New City Growth Strategy

December 29, 2022

Forbes: Attracting People Isn’t A New City Growth Strategy

Gas Works Park in Seattle, Washington
The former Seattle Gas Light Company gasification plant, now a public park, in Seattle Washington.

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.