As part of our “Next Stop, the Future” series, we examine an industry staple that’s quickly evolving: incentives.
In the U.S., 95 percent of communities use tax credits and other incentives to spur job creation and investment, according to an International Economic Development Council (IEDC) report, “Incentives for the 21st Century.”
You can maximize your incentives by focusing them on four areas:
entrepreneurship and small business, talent attraction, local hiring, and energy savings.
Communities are poised to impact the first three areas at the local level. Meanwhile, Valley communities can depend on TVA to lead in energy savings.
Entrepreneurship and Small Business:
Support new and small businesses by simplifying zoning processes, reducing business license requirements, and hosting networking and education events.
(For ideas, check out the Kauffman Foundation’s entrepreneurship report).
Increase vibrancy and diversity through smart planning. Build your locale into a place where young, international, and other talented workers want to live (TVA can help with strategic community development support).
(For ideas, check out the Lower Town Artist Program in Paducah, Kentucky, or the Live Midtown program in Detroit, Michigan). (more…)