Financial incentives are often used by policymakers to attract big businesses to locate in a place and deliver jobs and growth.
But do they actually make any difference?
Economic development and incentives expert Tim Bartik joins Andrew Carter to debunk the biggest assumptions made by policymakers in this field, revealing that 75% of the time, the same number of jobs would have been created without any incentives at all.
Tim and Andrew cover recent high-profile cases such as Amazon’s much-criticised plans for the location of its second headquarters in Virginia and New York City and Wisconsin’s $4 billion state and local tax incentives to Foxxconn in the promise of 13,000 new jobs that never materialised.
Tim reveals the opportunity costs, spillovers and leakages that offering a high cash-per-job price tag create, and instead sets out a better way to achieve inclusive local economic growth and good jobs for all.
Background reading:
city talks: Sir Richard Leese on Manchester's urban revival
Event catch up: City Horizons with Sir Richard Leese — Manchester Then and Now
City Talks: The revenge of the places that don't matter — and what to do about it
City Talks: The changing face of integrated transport in Britain's cities
Event catch up: City Horizons with Bruce Katz - Cities in the Age of Populism
City Talks: Measuring city performance in the modern economy
City Talks: The impact of automation
City Talks: Capitalism without Capital
City Horizons with Professor Ron Martin: Survival of the Cities?
City Talks: If we build it, will they come?
City Talks: Growing Urban Inequality with Professor Michael Storper
City Talks: Challenging the myths about migration
City Horizons: Professor Michael Storper
City Horizons: Professor Diane Coyle
City Talks: Resolving the Air Pollution Crisis in our Cities
City Talks: post-election special with Tony Travers
Roundtable with Carl Weisbrod, Chairman of the New York City Planning Commission
City Talks: Mike Emmerich on Britian's Cities, Britain's Future
City Talks: The Voice of the City - Lessons for the English Metro Mayors
Event catch up: Greater Manchester metro mayor hustings
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