N.J. Businessman Indicted for Sopranos-Style Economic Development Racket
George Norcross III's alleged actions are almost cartoonishly corrupt. But for economic development programs, it's not too far off from business as usual.
Economic Development
These New York Agencies Benefit From Giving Away Taxpayer Money
A report from Good Jobs First found that 80 percent of state development agency revenue comes from fees: The more tax money they give out, the more they get to keep.
Michigan Is Spending Millions Trying To Refurbish a Ski-Flying Hill. It's Not Working.
Copper Peak revitalization was pitched as an economic development project for the Upper Peninsula, which already has two working ski jumps.
Will Outdoor Recreation Save Appalachia?
Smokestack-chasing is out. A diversified economy based on environmental protection is in. But will it work?
Study Funded by Shell Convinced Pennsylvania To Give Shell $1.6 Billion Tax Break
The tax credits currently rank as the largest subsidy in state history.
St. Louis Schools Lost $260 Million to Economic Development Subsidies
According to a report from Good Jobs First, St. Louis' public schools took the brunt of the loss at nearly 65 percent of the total.
State Governments Promised Private Companies More than $10 Billion in Subsidies Last Year
The statistic, compiled by watchdog group Good Jobs First, only takes into account "megadeals" involving at least $50 million in subsidies.
G.M. To Lay Off 1,300 Michigan Workers Despite $824 Million in State Incentives
The bulk of the employees may be able to find work elsewhere within the company, but the state could still be on the hook for the promised cash.
Michigan Lawmakers Signed Nondisclosure Agreements, Can't Discuss Corporate Welfare Scheme
If states insist upon giving away taxpayer money to private companies, the least they can offer in return is transparency.
Johan Norberg: Why We Need a Capitalist Manifesto
Q&A with the author of the book Elon Musk calls "an excellent explanation of why capitalism is not just successful, but morally right."
Taxpayers Will Pay at Least $600 Million for Tampa Bay's New Baseball Stadium
But will it solve the team's attendance woes? Probably not.
Baltimore Orioles Owners Demand Even More Unnecessary Taxpayer Money
Apparently $600 million to improve a very nice stadium isn’t enough.
Was the Radical Left Correct About the IMF and World Bank?
Alex Gladstein on how "monetary colonialism" has crippled the Third World
Voters Put Arizona Coyotes' Arena Project on Ice
A good example of why so few stadium deals end up on the ballot.
States Spend Billions on Economic Development Deals With Little Return
In a new report, the Center for Economic Accountability analyzed economic development data from all 50 states and the District of Columbia, and there's very little to show for billions in annual spending.
The Zoning Theory of Everything
Land use policies explain the battles over everything from the Great Recession to abortion to Donald Trump.
What the U.S. Should Learn From China's Population Decline
The U.S. remains the top destination for the world's immigrants—but it must be careful not to squander its immigration advantage.
Free Market Think Tank Names Georgia Electric Vehicle Plant the 'Worst Economic Development Deal of 2022'
Rivian, an electric truck manufacturer that hopes to compete with Tesla, received a lucrative deal to build a new factory in Georgia despite concerns about its finances.
Review: Try and Fail To Build a Virtual City in Sim Nimby
Eventually the player realizes nothing is getting built and quits.
Biden's 'Made In America' Plan Is Bullying Homeowners Off Their Land to Build a Taxpayer-Subsidized Chip Plant
The president has touted a factory jobs boom. In practice, that means forcing people out of their homes to benefit corporate projects that rely on billions of dollars of subsidies.
Neighbors Won't Let Decaying L.A. French Restaurant Die, Despite Owner's Wishes
Cruel NIMBYism hides in call for historic preservation.
Africa Tries Free Trade
Liberal ideas are beginning to gain traction on the world's poorest continent.
Wisconsin's Foxconn Boondoggle Looks Worse Than Ever
President Donald Trump and Gov. Scott Walker promised thousands of jobs in return for billions of dollars in subsidies from the state. More than two years later, there's little to show for it.
Cato Unbound Symposium on the 50th Anniversary of Albert Hirschman's Classic Book "Exit, Voice, and Loyalty" [Updated]
The symposium includes contributions by Adam Thierer, Mikayla Novak, Max Borders, and myself. The relationship between exit and voice is as important an issue as ever.
When Businesses Die, Bringing Back Their Services Won't Always Be Possible
Event production is one of the less visible victims of the virus. Recreating their services when such companies die won't be easy.
Wisconsin's Massive Foxconn Boondoggle Is Getting Worse
The Taiwan-based tech company promised to open "innovation centers" in several cities around the state. But now those are on hold, too.
California Might Resurrect Redevelopment Agencies That Were Wasteful Exercises in Corporate Welfare
Milton Friedman famously observed that "nothing is so permanent as a temporary government program." The rare demise of a government program, it seems, is temporary too.
Deceptive Data Make Georgia's Film Tax Credit Program Look Less Wasteful
Economists debunk the state government's claims about the size of the film industry.
Kansas City Uses Bad Research To Justify Corporate Welfare
A local development study didn't evaluate whether government incentives had anything to do with a business's decision to invest.
They Said This Law Would Fix Blighted Neighborhoods. Instead It's Being Used to Steal People's Homes
And the Pennsylvania state lawmaker who wrote the law is now the judge who hears a lot of the cases.
Bryan Caplan's New Book on Open Borders
It should be of great interest to anyone who follows debates over immigration.
These Three Cities Spent $70 Million on Stadiums to Lure Minor League Baseball Teams. They All Struck Out.
Across the country, minor league teams are exploiting civic enthusiasm for small town sports.
Green Nonprofit Got $1.3 Million Grant to Create Five Jobs
Fool me once, shame on you. Fool me twice, shame on Oregon's economic development agency.
Foxconn Is 'Not Building a Factory' in Wisconsin Despite Billions in Taxpayer Subsidies
Foxconn is reconsidering its plans to build a manufacturing facility that was supposed to create 13,000 blue collar jobs.
Taxpayers Will Pay $1 Million to Tear Down $18 Million Baseball Stadium That Predictably Failed to Rejuvenate Camden
The stadium never turned a profit and the team skipped town when local officials decided to start charging rent.
Private Train Cars, Murder Task Forces, Captain Kirk: Cities Offered Amazon Some Weird Shit
But none of it is a substitute for developing a robust and vibrant economy. And neither is landing a single big employer like Amazon.
Amazon Snags $2 Billion in Bribes and Tax Credits From New York and Virginia
But Amazon's decision to put it's new headquarters in Arlington and Queens also shows it wasn't all about the money.
Scott Walker's Foxconn Boondoggle Is Now Subsidizing Imported Chinese Workers
Looks like Scott Walker got Foxconned
Natural Disasters Are Destroying a Lower Percentage of Humanity's Stuff Since 1990
Absolute losses increased, but the proportion of losses relative to global GDP has dropped
Can Laundry and Lettuce Save Cleveland?
A worker-owned co-op that even a capitalist could love is washing linens for the Cleveland Clinic and growing vegetables for the city.
Hernando de Soto Knows How To Make the Third World Richer than the First
The Peruvian economist says blockchain technologies and social media will transform the planet by securing property rights.
Climate Change Problems Will Be Solved Through Economic Growth
"How bad will climate change be? Not very."
Is Degrowth the Only Way to Save the World?
Welcome to the latest gussied up version of Malthusian eco-pessimism!
The Nanny State vs. The Nanny Goat
Peak goat is finally achieved as goat yoga appears in a taxpayer-subsidized, goat-themed baseball stadium.
