Investing in economic development can be a good choice for a government that wants to grow jobs.
Thats why cities and towns work out tax-increment financing deals with private companies, shielding new or expanded facilities from property taxes. Its why the state will offer tax credits and other incentives to companies that want to move to Maine or expand here. Its why the state spends millions of dollars in other parts of the country every year to promote the tourism industry.
Whether these expenditures come in the form of a tax break or a direct appropriation, the principle is the same: The cost is spread broadly even though only specific businesses benefit. But when these deals result in new jobs, whole communities are better off.
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Read the full article at: http://www.pressherald.com/2017/07/24/our-view-lawmakers-should-back-college-debt-relief-bond/