By Robert Robb | The Republic
(Editor’s note: Opinion pieces are published for discussions purposes only.)
Last week, the Tempe City Council approved a property tax abatement for a hotel, office and retail development on the site of Monti’s restaurant. This is a reminder of what a waste such incentives are on a regional basis.
An argument can be made for manufacturing incentives. If other states provide them and Arizona doesn’t, we may miss out on some manufacturing employment.
I disagree with this argument. The evidence doesn’t support the notion that big-incentive states have better performing economies, or even do better in the manufacturing sector. And I think it risky to build an economy on companies here because of incentives rather than business fundamentals. But I acknowledge there’s an argument to be had.
