If the last year in the economic development arena has shown anything, it’s how serious the competition for new projects has become. States and localities understandably have raised their general expectations with the U.S. economy generating stronger growth prospects, confidence in American manufacturing on the rise, and a number of high-profile siting, expansion, and relocation decisions fueling economic development pursuits. But many companies at home and abroad have remained reluctant to part with capital to invest in new and augmented facilities while the U.S. and global economies remain “iffy.” And a handful of states have indicated they’re getting more serious about chasing new business by cutting tax rates and taxes.
