An economic development incentive can be strictly defined as “cash or near-cash assistance provided on a discretionary basis to attract or retain business operations. In practice, however, it is a broadly used term denoting an array of benefits designed to promote new business activity or to encourage business or job retention. These benefits principally encompass tax and economic incentives provided by federal, state or local governmental bodies. Other entities, such as utilities and non-profits, can also make incentives available for these purposes. They accord the recipient, in some manner, a monetary benefit (i.e., tax incentives) or an in-kind benefit (e.g., state regulatory releases of environmental liability, municipal infrastructure improvements). Private enterprises, including ind
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| - An economic development incentive can be strictly defined as “cash or near-cash assistance provided on a discretionary basis to attract or retain business operations. In practice, however, it is a broadly used term denoting an array of benefits designed to promote new business activity or to encourage business or job retention. These benefits principally encompass tax and economic incentives provided by federal, state or local governmental bodies. Other entities, such as utilities and non-profits, can also make incentives available for these purposes. They accord the recipient, in some manner, a monetary benefit (i.e., tax incentives) or an in-kind benefit (e.g., state regulatory releases of environmental liability, municipal infrastructure improvements). Private enterprises, including ind (en)
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| - An economic development incentive can be strictly defined as “cash or near-cash assistance provided on a discretionary basis to attract or retain business operations. In practice, however, it is a broadly used term denoting an array of benefits designed to promote new business activity or to encourage business or job retention. These benefits principally encompass tax and economic incentives provided by federal, state or local governmental bodies. Other entities, such as utilities and non-profits, can also make incentives available for these purposes. They accord the recipient, in some manner, a monetary benefit (i.e., tax incentives) or an in-kind benefit (e.g., state regulatory releases of environmental liability, municipal infrastructure improvements). Private enterprises, including individuals, are generally the ultimate beneficiary of economic development incentives. Depending on the incentive in question, other qualified parties are eligible to receive them, as in the case of municipalities, utilities, or economic development agencies. (en)
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