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Why We Need Economic Developers

By John Culbertson posted 05-09-2018 21:16

  

The Charlotte Business Journal reported last week that Charlotte was purportedly one of two finalists for becoming the new home of AllianceBernstein Holding L.P., a New York finance giant. AllianceBernstein chose Nashville for its new headquarters, where it will invest upwards of $70 million and create 1,050 corporate office jobs, according to the CBJ. The decision, the article suggests, was heavily influenced by the state and city’s lower property taxes.

C-suite executives appear to be chasing lower tax structures more than ever these days. And it’s made me wonder whether Charlotte lost out on this headquarters, and the Amazon project, because of income taxes, something that likely won’t change, at least any time soon.

Is Charlotte losing out on projects because of factors it has no control over? Conversely, of those companies that do call the Queen City home, did they base their decision on factors that leaders don’t have any influence over?

Read more here: http://cardinal-partners.com/blog/2018/05/why-we-need-economic-developers/

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