The Debate About Tax Incentives
As part of a strategy to improve local business development, many city mayors and state governors are using tax incentives to attract new business. Due to the economic conditions over the past few years, a lot of cities and states have experienced huge decreases in business growth and development. In an effort to get their cities and states back on track, mayors and governors across the country are developing new business tax incentive packages. These packages include tax breaks and tax incentives that help to offset the cost of training and hiring. Florida is one of many states that has been using tax incentives to attract new business. So far these incentives have helped the state attract major companies like Time Warner. According to an article in the Orlando Sentinel, Time Warner opened a 500 person office in Tampa in 2011. In order to seal the deal with Time Warner, the state offered the company three million dollars in state and local tax incentives. By having these tax incentive...