Tuesday, July 16, 2019

Why Local Leaders Always Fail At Economic Development

The fact is: attracting big businesses to any city is a fallacy. At least, the kinds of big businesses that don't simply pull up stakes and move every few years or keep demanding ransom in the form of incentives. So attracting big businesses is off the table, a total waste of time and money.

A fiscal conservative policy would be to help create the kinds of small businesses that have the potential to someday become big businesses.

For example: Look at Proctor and Gamble. Sure, P&G has plants in Greensboro but every few years P&G demands new incentives to stay. But P&G never threatens to leave their home town in Cincinnati, Ohio. Rarely does a business leave home even if it becomes world wide.

General Electric still maintains a plant in Schenectady, New York, where it was founded despite moving its headquarters to NYC.

The best thing we can do is keep out of town big businesses away and change our focus to help grow small businesses that will someday become industry giants.

But those kinds of businesses won't be downtown, they won't be restaurants, microbreweries, real estate development, night clubs, hotels, or any of the BS our current morons downtown continue to fund.

Learn it, know it, and spread the word if you plan to change our city.