Tuesday, January 25, 2005
Ed Bee from Taimerica Management is an authority on state incentives, and he has recently completed a project in Missouri. It appears that his work is generating some change.
The governor has indicated a willingness to move away from a patchwork of tax expenditures (which are difficult to measure and monitor). He appears to be moving toward a more transparent system based on the Oklahoma Quality Jobs program that Bee developed. Read more.
The Oklahoma Quality Jobs Program provides quarterly cash payments of up to 5% of newly created payroll to qualifying companies. The program applies to manufacturing, research & development, central administrative offices, and selected service companies. Learn more.
In my own view, incentives directed at companies have very unclear impacts. But at least the Quality Jobs approach makes incentives transparent and accountable. Most states have no clue on the cost or impacts of their incentive programs, and monitoring is virtually impossible. A good case in point is the New York Empire Zone program. An audit last year showed that costs and benefits are unknown. Read more.
posted by Ed Morrison |
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Some Background on EDPro Weblog
The purpose of this weblog is to help economic development professionals -- EDPros -- keep up with the changes sweeping our profession. Strap on your goggles. It's a whole new game. There are no experts any more. The only place to learn about economic development is from other EDPros who are doing it.
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Speaking and workshops on Open Source Economic Development
As the idea of Open Source Economic Development starts spreading, more people are asking about it. Visit the I-Open web site to learn more. My colleagues and I are happy to explain the basic concepts in a talk or a workshop. E-mail Susan Alshuler if you'd like to learn more about workshops and speaking.
Background on Ed Morrison
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Recrafting incentives in Missouri
