CREC Project News and Updates

State Econ Leaders Talk Incentives Policies, Federal Relationships

December 9, 2015

State agency economic development secretaries from Hawaii to New England met for two days in Phoenix to discuss the challenges and opportunities they face in developing and delivering programs for the people they serve.

The invitation-only meeting, hosted by the Center for Regional Economic Competitiveness (CREC) and the Arizona Commerce Authority, focused on:

  • Administering and evaluating incentive policies and programs
  • The role of public-private partnerships in managing and implementing economic development policies
  • Exploring state interests in federal-state economic development collaborations
  • Improving state workforce development systems

The meeting was part of a project CREC began in 2013 with the Pew Charitable Trust to improve state tax incentive programs. As part of that effort, CREC and Pew identifies and works with states to establish and implement successful economic development tax policies and practices; improve participating states’ ability to collect and report data and information; and develop national standards and best practices to draw a roadmap for similar efforts in other states. During the Phoenix meeting, the state economic development officials reviewed other states’ incentive benchmarking efforts and performance indicators and discussed inter-state collaboration.

The agency executives also examined how states can play a role federal programs, such as:

Growth Potential:

State agency leaders and chief deputies who attended the two-day session in Phoenix say they see challenges in the eight sectors and honed in on policies that affect talent development as a key to finding overall industry solutions. Each said they hope to work toward future discussions that guide state-level policies that effectively close skills gaps and match employers with well-trained, well-educated employees. Federal involvement, the leaders said, plays a crucial role in the ways industry drives workforce development and supply-chain expansion.

About CREC:

The Center for Regional Economic Competitiveness (CREC) is an independent, not-for-profit founded to provide policy-makers from around the world with the information and technical assistance they need to formulate and execute innovative, regional, job-creating economic strategies. The organization’s team delivers its programs and services based on its Guiding Principles.

About This Project

Business Incentives Policy & Practice Initiative
Start Date: Nov 2013 — End Date: Sep 2015

The Business Incentives Policy and Practice Initiative is a joint project of the Pew Charitable Trusts and the Center for Regional Economic Competitiveness. This 18-month program engages forward-thinking leaders at the state level to reform economic development incentive policies and practices. Teams of economic development policymakers and practitioners from six states will improve those states’ ability to collect and report results from incentive investments and, as a result, develop national standards and best practices that can become road maps for other states.

About the Client

Pew Charitable Trusts

Pew Charitable Trusts is an independent, non-profit organization – the sole beneficiary of seven individual trusts established between 1948 and 1979 by two sons and two daughters of Sun Oil Company founder Joseph N. Pew and his wife, Mary Anderson Pew.