Reforming State and Local Economic Development Subsidies

Marc Joffe, an expert on economic development strategies, shares insights into how states can rethink their approach to business subsidies. He tackles the detrimental effects of competitive subsidies that burden taxpayers and outlines the role of site consultants in this system. Joffe discusses potential reforms that promote transparency and interstate cooperation, drawing on rivalries like that between Kansas and Missouri. He encourages lawmakers to reevaluate subsidy models, advocating for a more thoughtful approach to attract businesses without unsustainable costs.