In November 2018 the online e-commerce company Amazon announced it would be building a second headquarters in New York City and Arlington, VA. The announcement came a year after the company announced it would accept proposals from any North American city who wanted to host the headquarters. Amazon said the company could invest over $5 billion and the offices would create up to 50,000 high paying jobs. More than 200 cities applied and offered Amazon millions of dollars in economic incentives and tax breaks. For the New York City headquarters the city and state governments gave Amazon $2.8 billi… Read more
For example: in the state of KY, eastern KY and the Appalachian region drastically needs many kinds of businesses to serve the people but few corporations are willing to invest in the region due to low numbers of people and economic distress. If the government would assist in bringing in businesses, many problems might be eased and in time the region could be a profitable place for a business to locate..
Any coastal community a hurricane has devastated serves as an example of the need for government investment and assistance (subsidy) in businesses for recovery and survival.
Absolutely, areas such as eastern KY and the Appalachian region, which are often overlooked due to less favorable economic conditions, could definitely benefit from such incentives. It's a win-win situation where businesses get a boost to establish and the local community gets job opportunities and economic upliftment. Similarly, for coastal communities hit by natural disasters, these incentives can stimulate recovery and resilience. But how do we ensure that these incentives lead to long-term commitment from businesses rather than short-term gain?
No, the government should never subsidize private businesses
The government should subsidize some private businesses: to help some get started, to help some open new locations in needy areas, to help in recovery from natural disasters. The government should be allowed to subsidize for specific reasons and with maximum and minimum money levels.
Perhaps. Depends on the company’s background, how the local people feel about it, statistical impact on the local economy, and environmental impact. The government should preferably focus on boosting local infrastructure to attract more companies
Perhaps. It depends on the company, how the local people feel about it, statistical impact and environmental impact. Improving local infrastructure and communities to attract companies would be a better long-term solution than directly subsidizing companies.
There needs to be some kind of offset where money paid by city is paid off by the company in a certain period of time..
Certain environments need to be protected better however the economic benefit of such companies is very appealing to smaller cities.
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