State and local governments are showing no signs of wavering in their efforts to woo businesses with incentives deals. This morning, we read reports out of Columbus, Ohio and Dallas, Texas (subscription required) indicating that certain areas are upping the ante in their efforts to lure or retain businesses.
This year, the state of Ohio has reportedly executed 156 incentives deals, with the largest three totaling almost $167 million. These deals are not just for new businesses in the state — many were hammered out in order to retain existing employers. The state reports that it has either helped to create or hold on to 4,410 jobs via these deals, at a cost of $37,845 a job.
In Texas, the Collin County Commissioner’s Court has passed an initiative that would give a 50% property tax abatement to any new business opening its doors after January 1, 2012. The proposed abatement would last for three years and would be available to all new businesses, no matter how small.
