What kinds of financial incentives will the ITA have to offer to induce companies to locate in the Transpark?
The ITA is silent about the fact that taxpayer-financed industrial parks generally must offer expensive financial incentives to attract customers. Typical inducements include 20-year tax abatements and free utilities. The ITA boasts that anticipated increased tax revenue will benefit schools, but in fact such developments never pay their way. The school system would be overwhelmed with students and underfinanced in tax revenue if the ITA’s boast of 7,500 jobs were realistic.
