Enterprise Zone Program and Its Impact on Small Business Growth and Development PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Enterprise Zone Program and Its Impact on Small Business Growth and Development PDF full book. Access full book title Enterprise Zone Program and Its Impact on Small Business Growth and Development by United States. Congress. Senate. Committee on Small Business. Download full books in PDF and EPUB format.
Author: United States. Congress. Senate. Committee on Small Business
Publisher:
ISBN:
Category : Enterprise zones
Languages : en
Pages : 236
Get Book Here
Book Description
Author: United States. Congress. Senate. Committee on Small Business
Publisher:
ISBN:
Category : Enterprise zones
Languages : en
Pages : 236
Get Book Here
Book Description
Author: Daphne A. Kenyon
Publisher:
ISBN: 9781558442337
Category : Electronic books
Languages : en
Pages : 0
Get Book Here
Book Description
The use of property tax incentives for business by local governments throughout the United States has escalated over the last 50 years. While there is little evidence that these tax incentives are an effective instrument to promote economic development, they cost state and local governments $5 to $10 billion each year in forgone revenue. Three major obstacles can impede the success of property tax incentives as an economic development tool. First, incentives are unlikely to have a significant impact on a firm's profitability since property taxes are a small part of the total costs for most businesses--averaging much less than 1 percent of total costs for the U.S. manufacturing sector. Second, tax breaks are sometimes given to businesses that would have chosen the same location even without the incentives. When this happens, property tax incentives merely deplete the tax base without promoting economic development. Third, widespread use of incentives within a metropolitan area reduces their effectiveness, because when firms can obtain similar tax breaks in most jurisdictions, incentives are less likely to affect business location decisions. This report reviews five types of property tax incentives and examines their characteristics, costs, and effectiveness: property tax abatement programs; tax increment finance; enterprise zones; firm-specific property tax incentives; and property tax exemptions in connection with issuance of industrial development bonds. Alternatives to tax incentives should be considered by policy makers, such as customized job training, labor market intermediaries, and business support services. State and local governments also can pursue a policy of broad-based taxes with low tax rates or adopt split-rate property taxation with lower taxes on buildings than land.State policy makers are in a good position to increase the effectiveness of property tax incentives since they control how local governments use them. For example, states can restrict the use of incentives to certain geographic areas or certain types of facilities; publish information on the use of property tax incentives; conduct studies on their effectiveness; and reduce destructive local tax competition by not reimbursing local governments for revenue they forgo when they award property tax incentives.Local government officials can make wiser use of property tax incentives for business and avoid such incentives when their costs exceed their benefits. Localities should set clear criteria for the types of projects eligible for incentives; limit tax breaks to mobile facilities that export goods or services out of the region; involve tax administrators and other stakeholders in decisions to grant incentives; cooperate on economic development with other jurisdictions in the area; and be clear from the outset that not all businesses that ask for an incentive will receive one.Despite a generally poor record in promoting economic development, property tax incentives continue to be used. The goal is laudable: attracting new businesses to a jurisdiction can increase income or employment, expand the tax base, and revitalize distressed urban areas. In a best case scenario, attracting a large facility can increase worker productivity and draw related firms to the area, creating a positive feedback loop. This report offers recommendations to improve the odds of achieving these economic development goals.
Author: United States. Congress. Senate. Committee on Small Business
Publisher:
ISBN:
Category : Community development
Languages : en
Pages : 436
Get Book Here
Book Description
Author: Timothy J. Bartik
Publisher: W.E. Upjohn Institute
ISBN: 0880996684
Category : Political Science
Languages : en
Pages : 180
Get Book Here
Book Description
Bartik provides a clear and concise overview of how state and local governments employ economic development incentives in order to lure companies to set up shop—and provide new jobs—in needy local labor markets. He shows that many such incentive offers are wasteful and he provides guidance, based on decades of research, on how to improve these programs.
Author: United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight
Publisher:
ISBN:
Category : Bonds
Languages : en
Pages : 1124
Get Book Here
Book Description
Author: United States. Congress. House. Committee on Ways and Means. Subcommittee on Select Revenue Measures
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 324
Get Book Here
Book Description
Author:
Publisher:
ISBN:
Category : Government publications
Languages : en
Pages : 1320
Get Book Here
Book Description
Author: OECD
Publisher: OECD Publishing
ISBN: 9264040099
Category :
Languages : en
Pages : 126
Get Book Here
Book Description
This Framework provides policy makers with a concrete, explicit, practical and accessible guide to best practice evaluation methods for SME and entrepreneurship policies and programmes, drawing upon examples from a wide range of OECD countries.
Author: United States. Congress. House. Committee on Ways and Means
Publisher:
ISBN:
Category : Community development
Languages : en
Pages : 396
Get Book Here
Book Description
Author:
Publisher:
ISBN:
Category : Government publications
Languages : en
Pages : 1586
Get Book Here
Book Description
