Business Incentives Policy & Practice Initiative
The Pew Charitable Trusts and CREC implemented a business incentives policy and practice initiative. Funding for the initiative is provided by the Laura and John Arnold Foundation. This two-year program engaged forward-thinking teams of economic development policymakers and practitioners from six states to work together within and across borders to: (1) identify effective ways to manage and assess economic development incentive policies and practices; (2) improve the participating states’ ability to collect and report results from incentive investments; and (3) develop national standards and best practices that can become roadmaps for other states. Pew and CREC engaged the participating states through forums, assessments, working sessions, and technical assistance. This included an assessment of existing incentive policies and practices, data collection and reporting efforts, analytic frameworks, and methods for communicating information to policymakers. As a result of this initiative the participating states developed actionable and specific recommendations, many of which were implemented as administrative or legislative reforms.
Focusing on Outcome Measures: Virginia Economic Development Partnership
Rob McClintock, vice president of research at the Virginia Economic Development Partnership, discusses statewide reporting requirements for economic development incentives and his state’s participation in the business incentives initiative.
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.
State Econ Leaders Talk Incentives Policies, Federal Relationships
December 9, 2015
.@CRECnet's state economic development agency leaders workshop has kicked off in Phoenix. #econdev pic.twitter.com/Ol1oO8GoaB — Parry Carter (@PCarter222) November 18, 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. […]