Tactics that hurt the economy

Wichita could innovate and gain attention by opting out of the harmful practice described in the following article.

How an oft-used economic development tactic may actually be hurting the economy

By J.D. Harrison, Washington Post

If you can’t build your own, steal someone else’s.

That, one economist notes, has become the default strategy for state and city governments in their pursuit of rapidly growing businesses, with many offering increasingly lucrative incentive packages to encourage employers to move to and create jobs in their districts.

However, that’s hardly the most sustainable method to promote the country’s economic growth — and there’s new evidence that it’s not particularly effective at a local level, either.

Continue reading at Washington Post.

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