Summary
Critics have needled City Hall for offering and granting sales- tax rebates, rent reductions and other strategies to retailers as inducements to locate in Long Beach. "Corporate welfare!" they cry.
We favor the practice, believing it restores aging shopping centers and generates jobs, taxes, competition, lower prices and more choices for shoppers. Also, using incentives to attract top retailers can create a halo effect that draws in smaller businesses, such as when a dry cleaners sets up next to a supermarket. Without such inducements, some storefronts would sit or be rented to tenants that generate fewer jobs and less revenue for the city, which gets about a penny in taxes on every dollar spent.See the full content of this document
Extract
Return On Investment
Fees and taxes are impediments to economic growth and job creation. Governments that can lower, return or eliminate them reap the benefits of economic growth....
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