Smart Incentives and Good Jobs First both presented their ideas this week on how cities can better utilize incentives to achieve equitable economic outcomes at a webinar hosted by the National League of Cities, Urban Land Institute and Policy Link for cities participating in the Equitable Economic Development Fellowship.
Good Jobs First described their work on incentive disclosure practices and small business fairness as means to determine whether and how incentives are applied with an equity angle.
Smart Incentives addressed ways cities can establish clear and measurable incentive program goals related to equity objectives, choose good program metrics, and engage the community on the equity-related outcomes from incentive activities.
Equity goals and incentive program purposes often overlap. Making the connection explicit and incorporating equity goals during each stage of the incentive process – including reporting on project milestones and program accomplishments – are two critical steps to adding an equity lens to incentive programs.
We invite you to view our presentation to learn more about our approach to incentives and equitable economic development.