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New bill does hard job of injecting capital into needy communities

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President Trump’s “Peter Thiel Plan” for the Economy: Run Like Hell for the Coasts

/   Ross Baird, Medium

Every economic conversation in this country should be about jobs. And where and how we invest in entrepreneurs dictates a great deal about the kinds of jobs we are going to create. According to the Kauffman Foundation, nearly 100% of net new jobs in America over the last thirty years have been created by startup…

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U.S. Cities Battle Each Other for Jobs With $45 Billion in Incentives

/   Ruth Simon, The Wall Street Journal

Economic-development tax incentives more than tripled over the past 25 years, offsetting about 30% of the taxes the companies receiving incentives would have otherwise paid in 2015, compared with about 9% offset in 1990, according to an analysis of incentives covering more than 90% of the U.S. economy. By 2015, the total annual cost of…

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Bipartisan Legislation Looks to Boost Private Investment in Distressed Communities

/   Staff, Initiative for a Competitive Inner City

Sometimes it feels as though there is nothing our policymakers in Washington can agree upon. But amid the discord affecting our nation’s capital is a glimmer of hope: Senators Tim Scott (R-SC) and Cory Booker (D-NJ), and Congressmen Pat Tiberi (R-OH) and Rob Kind (D-WI) have reintroduced legislation that would incentivize the private sector to…

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Congress seeks Trump’s support for investment in distressed communities

/   Kirill Abbakumov, International Economic Development Council

Congressional lawmakers in both chambers aim to obtain support from President Donald Trump for new incentives to help economically distressed communities. Since the beginning of 2017, a group of Republicans have been working to pitch tax incentives for financially troubles areas to President Trump and other administration officials. They are echoing Trump’s calls to revitalize…

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America’s Major Market Power Problem – Episode 13 of the Building Local Power Podcast

/   Christopher Mitchell & Stacy Mitchell, Institute for Local Self-Reliance

In this episode, Christopher Mitchell, the director of ILSR’s Community Broadband Networks initiative, interviews Stacy Mitchell, co-director of the ILSR and director of the Community-Scaled Economies initiative. The two discuss the environment for small businesses in the United States, especially noting the fact that the rate of small business creation is at one of its…

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Weathersbee: Inclusion goal is only fair after tax breaks.

/   Tonyaa Weathersbee, The Commercial Appeal

Fair because the taxes that are being lost could be used to bolster the schools and other services in the distressed, predominantly African-American communities that many of those construction workers will likely come from. “That’s the problem for a very revenue constrained place like Memphis,” Greg LeRoy, executive director of Good Jobs First, told me….

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