Economic Development Incentive
Definition
Tax breaks, grants, or other financial benefits offered by government to attract businesses or development. Common types include: tax abatements, TIF districts, PILOT programs, and direct grants.
Louisville Context
Louisville offers hundreds of millions in development incentives annually, but often lacks accountability. Companies receive tax breaks but don’t always deliver promised jobs or wages. Dave’s plan requires: job creation minimums, wage requirements ($15/hr+), clawback provisions if promises aren’t met, and public reporting on outcomes.
Why It Matters
Incentives can create jobs and growth—or they can be corporate welfare with no public benefit. The difference is accountability. Taxpayers deserve to know: Did companies deliver what they promised? Are jobs good-quality? Is the public getting value for tax dollars given away?
Dave’s Proposal
All economic development incentives require: (1) wage floor of $15/hour minimum, (2) job creation targets with penalties for missing goals, (3) clawback provisions allowing Louisville to recover incentives if companies don’t deliver, (4) annual public reporting on outcomes.