An economic development incentive is known as "cash or near-cash assistance provided on a discretionary basis to attract or retain business operations."[1] These benefits principally encompass tax and economic incentives provided by federal, state, or local governmental bodies. Entities such as utilities and non-profits, can also make incentives available for these purposes.[2] They accord the recipient a monetary benefit (i.e., tax incentives) or an in-kind benefit (e.g., state regulatory releases of environmental liability, municipal infrastructure improvements).[3] Private enterprises, including individuals, are generally the ultimate beneficiaries of economic development incentives. Depending on the incentive in question, other qualified parties are eligible to receive it, as in the case of municipalities, utilities, or economic development agencies.
^Timothy J. Bartik, Solving the Problems of Economic Development Incentives in Reining, in The Competition For Capital 103, 104 (Ann Markusen ed., 2007).
^Cite error: The named reference :0 was invoked but never defined (see the help page).
^"Frederick W. Kindel, Discretionary Tax and Economic Incentives § 9.03[6][a] (Law Journal Press ed. 2014)".
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