The Use of Incentives in Economic Development
Competition among states and cities for new business projects is nothing new. Economic development incentive use accelerated as the federal government cut back on economic development programs in the late 1980s early 1990s. The impact of the recession during that period resulted in plant closures, lay-offs, fewer new jobs and increased global competition. Elected officials were under immense pressure to do something about economic development and thus, the incentive bidding wars began.
Today, the fervor for new jobs among states and regions has grown increasingly competitive, contentious and costly. It has been described as the “new war between the states.” At one time, in South Florida, it could also have been accurately described as the war between the counties or even the war between the cities. Largely through the efforts of The Beacon Council, this incentive “war” has greatly lessened, though on occasion it still does happen. Since the late 1990s, informal agreements between the three South Florida counties have reduced or eliminated this inter-county competition.
[The Use of Incentives in Economic Development]
Univision Networks President Cesar Conde calls it a “what if?” moment.
What if Hispanics, the fastest growing group of Americans, were served 24 hours a day by a cable network that offered news and entertainment? And what if it did it in English, connecting to a whole new generation of Latinos who have deep roots in their culture even as they have “mainstreamed,” but also attracting non-Hispanics to tune in?
And with that, Univision and Disney-ABC Television Group, paired up to create a new network. This week they announced they are bypassing Latino hubs, like Los Angeles and Houston, for greater Miami to build it. Wise choice. This region is a natural fit for a new generation of bilingual, bicultural Americans.