Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Economic Development: Better Returns with Smart Incentives

624 views

Published on

Presentation - NCSL Jobs Summit (Harpel 2014)

Published in: Economy & Finance
  • Be the first to comment

  • Be the first to like this

Economic Development: Better Returns with Smart Incentives

  1. 1. ECONOMIC DEVELOPMENT: BETTER RETURNS WITH SMART INCENTIVES NCSL Jobs Summit San Jose, CA September 18, 2014
  2. 2. 2 Using incentives to achieve state policy and community goals Recipient Deal Compliance Effectiveness Data and analysis to enable better decision-making Greater transparency and accountability
  3. 3. 3 steps state legislatures can take to create smart incentives 1. Set clear goals for each incentive program • But allow flexibility on specific metrics 2. Request and fund regular program performance evaluation • Enable data sharing • Provide time and resources • Use reporting to improve not punish 3 3. Work with the executive and economic development office to improve program performance • On the same team – creating economic opportunities in your state • How can incentives support these efforts?
  4. 4. Business Incentives Initiative 4 • Identify effective ways to manage and assess incentive policies and practices • Improve data collection and analysis • Develop national standards and best practices that states can use to report on economic development incentives • Participating states: IN, LA, MD, MI, OK, TN, VA
  5. 5. 5 Takeaways • Incentives should be used to accomplish community goals – not just win a deal. • The problem is that we haven’t known which incentives actually help our communities. • Communities need better data and analytics throughout the process to identify what works and enable sound decisions when awarding incentives. • The next few years will see tremendous improvements in the way we talk about and evaluate incentives.
  6. 6. Contact Information Ellen Harpel President 571/212.3397 eharpel@businessdevelopmentadvisors.com www.businessdevelopmentadvisors.com ellen@smartincentives.org http://www.smartincentives.org/ Twitter: @SmartIncentives 6

×