New research describes how different financial incentives for businesses result in varying degrees of success for improving local economies. The authors find that investment tax credits, development tax credits, and property tax abatements do not realize gains for local communities. Conversely, incentives linked with job creation and training have positive effects. Specifically, for places trying to attract new businesses, focusing on job-creating tax credits and job training grants were found to transition people into higher-paying jobs and spur local growth. These findings are especially important as communities consider ways to bolster their local economies in the aftermath of the pandemic. #covid-19 #workforce
Tax credits related to job creation and training found to support local economies
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