Economic Development
Covering topics such as development incentives, business preservation, job creation and training and unemployment.
A stretch of a historic highway in Lancaster, Calif., was transformed from a semi-freeway through town to an inviting space for residents and passersby to linger and connect.
Federal tax cuts may be in jeopardy, but some states are reducing the tax burdens on their citizens and businesses. It’s not surprising that millions are moving to states with robust free-market policies — and leaving those that don’t have them.
When Raúl Ureña was first elected in 2020, she earned 70 percent of the vote. Now the mayor of the California border town of Calexico faces a recall over homelessness and economic development – but also gender identity.
The Maryland Protecting Opportunities and Regional Trade Act went into effect immediately after Gov. Wes Moore signed it. The program will assist workers and businesses affected by the Key Bridge collapse.
After shedding nearly 1 million jobs, staffing levels are now higher than at the start of 2020. But severe shortages remain in several fields such as nursing, public safety and education.
Future in Context
Cities and states are working on novel solutions to old, intractable problems. Governing magazine’s return to print showcases stories of the people who are making them work across the country.
Experts predict that the celestial event could drive millions of dollars for local businesses, including a $179.8 million boost to the restaurant industry and $221.8 million for hotels.
It takes partnerships among school districts, higher education, employers and community leaders to unlock the potential for more students to earn a degree that leads to significantly higher lifetime earnings. States can do a lot to make that happen.
Roanoke lost the headquarters of two Fortune 500 companies. It created a promising future by retooling itself for biotech.
The Key Bridge collapse in Baltimore has closed the port and a key access road indefinitely. But many shippers and other companies were already more attuned to supply chain disruptions due to the pandemic.
Congress could enable cities to employ tax-exempt bonds to help stabilize their office tax bases in a way that’s friendly to both taxpayers and the IRS. There might already be opportunities for brave mayors and crafty public financiers.
The city’s tech companies raised more than $3 billion in funding and attracted 57 new investors last year, marking the region’s second highest annual total in 12 years.
The site is expected to generate approximately 1,000 construction jobs immediately and 1,400 jobs once the center is finished. The center will be Google’s first in Missouri.
States have devoted billions of dollars to replenishing their unemployment trust funds, but many are still short. Fewer states are now prepared for a recession than before the pandemic.
As other states ramp up their own development incentives, Texas is experiencing more competition for opportunity zone projects. Of 94 economic incentives projects across the nation this year, just two were in Texas.
A real estate consultant estimated that San Diego could go from 2,780 downtown employees using 819,000 square feet of space to 3,060 employees in just 580,000 square feet with small adjustments.
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