What are and why you should know about economic incentives to scale your business.
"The primary objective of incentives is to promote local investment and hiring." Abraham Song.
ENJEN is happy to offer value in sharing this article written by Abraham Song, on January 11th, 2021 for DCPolicycenter.org. You will find great explanations for business leaders that promote the understanding of cash flow tools offered by private and public organizations which are powerful growth energizers. Click here to read the article:
Why Business Incentives May Not Speed State Economic Recoveries
May 21, 2020
Josh Goodman & John Hamman of pewtrusts.org authored an interesting article discussing business incentives and COVID recovery starting with: Process of enacting government programs and filling new jobs can take years. Read More Below:
Washington Post reports; The Cares Act poured millions into corporate hands with no strings attached
The Washington Post reported on October 6th, 2020 that at least 133 corporate enterprises received more than $5 billion dollars from the cares act with no strings attached. The articles authors, Desmond Butler, Steven Mufson and Douglas MacMillan did a great job explaining that the legislation was created to promote the retention of employees, however these corporations received their stimulus in the form of a tax refund and no agreement to retain or hire new.
Click here to Read the article
Illinois - A Progressive Tax increase, Rising Energy Costs and little incentive offers Make site Selection and Workforce Development their biggest Focus.
On September 29th, 2020 in the RE Journal, ELISE COUSTON, SIOR posted an article titled, "Industrial Insider: An interview with Todd Maisch—CEO, IL Chamber of Commerce." This article talks about Illinois stepping up to the financial challenges and impending legislation changes to align Illinois as a pro-business state.
Branden Roberts, writing for Spectrum News, Offers a great article outlining Kentucky's incentive Program. Read this article that. was PUBLISHED 5:16 PM ET JUL. 27, 2020 below:
Learn how a panelist of business owners reveal that economic incentives are an important factor in expansion decisions.
Utah a fiscally conservative state with a dynamic economic development team announces 3 Incentive Packages that promis over 2400 jobs in 10 years.
Tony Semerad writing for The Salt Lake Tribune highlights this job creation story in his article published May 14th, 2020, entitled, "Utah announces tax incentives for three companies bringing new jobs to the state." Read the article below
As you know ENJEN Connects is the first of it's kind medium that allows governments to communicate in a forum that promotes using Tax payer dollars to support small to mid-size business who create growth. Read this article by ALAN GREENBLATT, SENIOR STAFF WRITER at governing.com and learn about how the big companies get over $107,000 per job 'promised" but often don't even hire them.
INTERESTING ARTICLE by Rapid City Journal Media Group, regarding the need for states to talk one on one with businesses and offer them money and support.
Nebraska needs to be competitive. All states have incentives. The state’s economic development professionals are visiting with businesses daily and sitting across the table from them. We know their needs, we know what our competition is.
As western Nebraska economic developers, we were disappointed to learn of one of our state senator’s views on economic incentives this week.