Last week the Council of Development Finance Agencies (CDFA) announced it will be leading an initiative to explore and examine the use of tax incentives in the economic development and job creation industry.
As CDFA President and CEO Toby Rittner explained:
Incentives have become a core tool in the economic development toolbox. Incentives appear to be effective and efficient at attracting businesses along with the jobs and additional tax revenue they bring with them. The propagation of the use of incentives, however, has brought unanticipated challenges. It is time for our industry to investigate incentives and establish thorough best practices to ensure that this tool is being used appropriately and effectively for all parties involved.
Smart Incentives is pleased to continue to partner with CDFA as it develops this valuable initiative. We agree that increased incentive use means we need better data and analysis in order to ensure we are achieving the expected outcomes for our communities, as well as to respond to calls for greater transparency and accountability throughout the incentives process.
Join us on Tuesday, August 18, for Framing the National Incentives Discussion as part of the CDFA // BNY Mellon Development Finance Webcast Series. A national panel of tax incentive experts, including Smart Incentives founder Ellen Harpel, will discuss the state of incentives in economic development. You can register for the free webcast here.
The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation’s leading and most knowledgeable members of the development finance community representing public, private and non-profit entities alike. For more information about CDFA, visit www.cdfa.net or e-mail info@cdfa.net.
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