10 Commandments of Economic Development Reemerge in House Economic Development Committee

Chair Chen Button’s Select Interim Committee on Economic Incentives issued a committee report that established 10 ways to analyze economic development programs. These 10 key points are re-emerging in Chair Chen Button’s House Committee on Small Business and Economic Development.

Let’s refresh the 10 points for economic development programs:

  1. A clear purpose of expected outcomes

  2. Metrics for achieving the outcomes

  3. A timeframe for achieving the purpose

  4. Funding limits (annually or biennially) 

  5. A competitive and open award selection process.

  6. Clawbacks for underperformance

  7. Transparency – routine, publicly available reporting

  8. Regular independent audits

  9. A sunset date

  10. Sunset review of purpose and effectiveness 

Interim Committee Report House Select Committee on Economic Development Incentives

 

image



Thank you for subscribing to our newsletter.
Great things are just around the corner!