Most economic development programs follow a similar pattern. Typically, governments offer a mix of tax breaks, exclusions, and fewer regulations in the hopes of enticing new investments to economically distressed communities. The new federal opportunity-zone program, established by the US Congress in the Tax Cuts and Jobs Act of December 2017, also follows that model. In this case, the government hopes that a lower effective capital-gains tax will lure investor capital to projects in approximately 8,700 economically disadvantaged US census tracts.1
Shows like Shark Tank are introducing more people to entrepreneurship, or at least a part of it, than ever before. Yet, despite entrepreneurship's popularity, the number of people starting new businesses has actually gone down.
In 1985, according to data from the Census Bureau, about one in eight companies was less than a year old. Thirty years later, in 2015, that ratio was approximately one in 12. I can't help but wonder if the attention on entrepreneurship brought about by shows like Shark Tank is contributing to the slide in new businesses. Hear me out.
The Census Bureau recently released its annual estimates for how the populations of each of the 3,142 counties and county-equivalents in the US changed in the year between July 1, 2017 and July 1, 2018.
The above map shows the percent change in population over that year in each county, with counties in blue having growing populations and counties in red seeing declines over the year.
Over the last year, home prices have risen in 49 of the biggest 50 metro areas in the United States.
At the same time, mortgage rates have hit seven-year highs, making things more expensive for any prospective home buyer.
With this context in mind, today’s map comes from HowMuch.net, and it shows the salary needed to buy a home in the 50 largest U.S. metro areas.
ANN ARBOR—Universities and federal laboratories are the cornerstones of American innovation, developing new products that address important societal issues and drive economic growth.
The University of Michigan, with support from the U.S. Department of Commerce’s National Institute of Standards and Technology, studied public research universities across North America to identify best practices for bringing new products to market. The findings aim to improve national competitiveness by providing universities with a practical roadmap on how to translate research from the lab to the marketplace.
In his first letter to Amazon shareholders in 1998, Jeff Bezos declared that it was “Day 1 for the internet, and if we execute well, for Amazon.com.” He meant that the company, which was already four years old, should always think of itself as being at the beginning of its journey.
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