Day 14: Incentives anyone? This topic will generate more additional days of discussion. Incentives are a necessary evil for now. Businesses will tell you incentives are not the first thing they consider when looking for a location but incentives do weed out communities at the end. I’m sure some day incentives will no longer be needed, but right now, they are helpful. There are tax incentives, cash incentives, infrastructure incentives, etc. As you are designing your incentives make sure they are flexible and that they have claw backs. Incentives must be tied to the goals of the organizations and you must be able to get the incentive back if the company does not meet the guidelines. I hope someday the federal government will outlaw incentives. But until that day, you have to play the game.
Incentives should be set up so that the company can take the benefits in the form they need. It should not be a complicated process but it also should have rigorous guidelines. Just remember, the incentive could be what keeps your community in the hunt. Next: What will draw the attention of a company?Next Previous