The use of financial incentives to attract and retain companies has become one of the most common economic development strategies of U.S. states and municipalities. Despite the widespread debate on the effectiveness of these programs, few systematic academic studies have examined how incentives affect job creation and local economic development. The result is that policymakers often lack objective data from which to draw conclusions about the benefits of these programs. At a time in which state and municipal budgets are increasingly strained, new tools that allow policymakers to evaluate and understand the costs and benefits of incentive programs are needed. This paper attempts to provide policymakers with such a tool by exploring the impact of the Promoting Employment Across Kansas (PEAK) incentive program and other incentives. The paper is part of a larger project funded by the Ewing Marion Kauffman Foundation that seeks to examine the effects of incentives on job creation in the Kansas City region as part of a two-year study of incentive competition. The paper’s main finding is that, when comparing firms receiving PEAK incentives to a similar set of “control” firms, PEAK incentives recipients are statistically not more likely to generate new jobs than similar firms not receiving incentives. A secondary set of findings shows that firms relocating to Kansas, with or without incentives, do not experience job growth at higher rates than existing firms. More important than the specific analysis of the PEAK program, this paper provides a model for the evaluation of incentive programs that could be applied to both state and municipal incentive programs. In the conclusion, I offer some suggestions for reforms of both the reporting of incentives and the analysis of the economic impact of incentives, and alternative economic development strategies.
利用财政激励来吸引和留住公司已经成为美国各州和市政当局最常见的经济发展战略之一。尽管对这些计划的有效性存在广泛的争论，但很少有系统的学术研究考察激励措施如何影响就业创造和当地经济发展。其结果是，政策制定者往往缺乏客观数据，无法从中得出有关这些项目效益的结论。在州和市政预算日益紧张的时候，决策者需要新的工具来评估和理解激励计划的成本和收益。本文试图通过探索堪萨斯州促进就业(PEAK)激励计划和其他激励措施的影响，为政策制定者提供这样一个工具。这篇论文是尤因·马里昂·考夫曼基金会(Ewing Marion Kauffman Foundation)资助的一个更大项目的一部分，该项目旨在检验激励措施对堪萨斯城地区创造就业机会的影响，这是一项为期两年的激励竞争研究的一部分。这篇论文的主要发现是，当将接受PEAK激励的公司与一组类似的“对照”公司进行比较时，从统计上看，接受PEAK激励的公司并不比没有接受激励的同类公司更有可能创造新的就业机会。另一组研究结果表明，迁往堪萨斯州的公司，无论是否有激励措施，其就业增长速度都不会高于现有公司。比具体分析PEAK计划更重要的是，本文提供了一个可以应用于州和市激励计划的激励计划评估模型。在结论部分，笔者对激励机制的报告和经济影响分析的改革以及经济发展的替代策略提出了一些建议。
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Where do entrepreneurs get their ideas for ventures that will construct a valuable new future? Occasionally these are based on serendipity through observing the unexpected or the incongruous. More often, however, new ideas spring from alertness to opportunities presented by changing markets or demographics, or from awareness that existing methods or ways of organizing may be limiting future prospects. Entrepreneurs are acutely sensitive to such opportunities through their natural inclinations in paying attention to trends and developments, or through their more purposeful efforts to seek out new knowledge. This case study will explore an aspect of Washington’s leadership less well known than his military and political career but just as important; Washington the farmer, business owner and entrepreneur.
{"title":"George Washington: Innovative Farmer and Businessman","authors":"Bruce A. Ragsdale, G. West","doi":"10.2139/SSRN.3067778","DOIUrl":"https://doi.org/10.2139/SSRN.3067778","url":null,"abstract":"Where do entrepreneurs get their ideas for ventures that will construct a valuable new future? Occasionally these are based on serendipity through observing the unexpected or the incongruous. More often, however, new ideas spring from alertness to opportunities presented by changing markets or demographics, or from awareness that existing methods or ways of organizing may be limiting future prospects. Entrepreneurs are acutely sensitive to such opportunities through their natural inclinations in paying attention to trends and developments, or through their more purposeful efforts to seek out new knowledge. This case study will explore an aspect of Washington’s leadership less well known than his military and political career but just as important; Washington the farmer, business owner and entrepreneur.","PeriodicalId":321365,"journal":{"name":"ERPN: Other Entrepreneurship","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126830637","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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