Download or read book The Impact of Economic Development incentive Utility Rates on Illinois Business with Special Emphasis on the Small Business Perspective written by Illinois Commerce Commission and published by . This book was released on 1987 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Business and Professional People for the Public Interest V Illinois Commerce Commission written by and published by . This book was released on 1991 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Rethinking Property Tax Incentives for Business written by Daphne A. Kenyon and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The use of property tax incentives for business by local governments throughout the United States has escalated over the last 50 years. While there is little evidence that these tax incentives are an effective instrument to promote economic development, they cost state and local governments $5 to $10 billion each year in forgone revenue. Three major obstacles can impede the success of property tax incentives as an economic development tool. First, incentives are unlikely to have a significant impact on a firm's profitability since property taxes are a small part of the total costs for most businesses--averaging much less than 1 percent of total costs for the U.S. manufacturing sector. Second, tax breaks are sometimes given to businesses that would have chosen the same location even without the incentives. When this happens, property tax incentives merely deplete the tax base without promoting economic development. Third, widespread use of incentives within a metropolitan area reduces their effectiveness, because when firms can obtain similar tax breaks in most jurisdictions, incentives are less likely to affect business location decisions. This report reviews five types of property tax incentives and examines their characteristics, costs, and effectiveness: property tax abatement programs; tax increment finance; enterprise zones; firm-specific property tax incentives; and property tax exemptions in connection with issuance of industrial development bonds. Alternatives to tax incentives should be considered by policy makers, such as customized job training, labor market intermediaries, and business support services. State and local governments also can pursue a policy of broad-based taxes with low tax rates or adopt split-rate property taxation with lower taxes on buildings than land.State policy makers are in a good position to increase the effectiveness of property tax incentives since they control how local governments use them. For example, states can restrict the use of incentives to certain geographic areas or certain types of facilities; publish information on the use of property tax incentives; conduct studies on their effectiveness; and reduce destructive local tax competition by not reimbursing local governments for revenue they forgo when they award property tax incentives.Local government officials can make wiser use of property tax incentives for business and avoid such incentives when their costs exceed their benefits. Localities should set clear criteria for the types of projects eligible for incentives; limit tax breaks to mobile facilities that export goods or services out of the region; involve tax administrators and other stakeholders in decisions to grant incentives; cooperate on economic development with other jurisdictions in the area; and be clear from the outset that not all businesses that ask for an incentive will receive one.Despite a generally poor record in promoting economic development, property tax incentives continue to be used. The goal is laudable: attracting new businesses to a jurisdiction can increase income or employment, expand the tax base, and revitalize distressed urban areas. In a best case scenario, attracting a large facility can increase worker productivity and draw related firms to the area, creating a positive feedback loop. This report offers recommendations to improve the odds of achieving these economic development goals.

Download or read book Economic Development incentive Utility Rates written by Illinois Commerce Commission and published by . This book was released on 1987 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Recommendations Regarding Economic Development Retention Utility Rates written by Illinois Commerce Commission and published by . This book was released on 1989 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Research in Rural Issues written by Warren Jones and published by . This book was released on 1990 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Economic Development Handbook Illinois Utility Options written by and published by . This book was released on 1993 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Annual Report on Public Utilities written by Illinois Commerce Commission and published by . This book was released on 1992 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Annual Report on Electricity Gas Water and Sewer Utilities written by Illinois Commerce Commission and published by . This book was released on 1996 with total page 778 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Bibliographic Guide to Business and Economics written by New York Public Library. Research Libraries and published by . This book was released on 1990 with total page 528 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Economic Development Handbook written by Dennis L. Sweatman and published by . This book was released on 1992 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book STATE PUBLICATIONS written by and published by . This book was released on 1987 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Monthly Checklist of State Publications written by Library of Congress. Exchange and Gift Division and published by . This book was released on 1987-05 with total page 888 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Illinois Documents List written by and published by . This book was released on 1987 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Journal of the House of Representatives written by Illinois. General Assembly. House of Representatives and published by . This book was released on 1987 with total page 2168 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Public Utilities Reports written by and published by . This book was released on 1990 with total page 660 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Publications of the State of Illinois written by and published by . This book was released on 1987 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: