Economic development means different things to different people. It depends on their context. In my early work as a Peace Corps volunteer in Africa development meant bringing running water to villages. My town was the new recipient of a public water system from the Danish Aid Agency.
But broadly speaking, economic development initiatives are efforts to attract investment to a region. For most places, it’s not about running water but about creating jobs. And, some of the best jobs out there – in demand and high paying – are in technology or in software development more specifically. Software is the future. And, many cities, states and countries want to get in on the act. Yes, many of the software development jobs will go to product development shops but they need to hire from somewhere and government leadersare hoping to bring those jobs to their constituents.
A classic strategy for attracting investment to a region is to provide tax incentives. We’ll give you a break on your corporate taxes for a period of time if you bring your new headquarters or factory or research facility to our region. A quick search reveals many such programs. Apparently Texas is “wide open for business” and is willing to provide tax abatements and local incentives.Read more