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Running head: LOCAL GOVERNMENTS AND INCENTIVES
Thought Essay: Local Governments and Incentives
Student’s Name
Institution
Date
1
LOCAL GOVERNMENTS AND INCENTIVES
2
Why Local Governments Should Incentivize Business to Move into Their
Municipality
In 2019, freshman Congresswoman Alexandria Ocasio-Cortez made national
news by leading a revolt against Amazon’s plans of building its headquarters in New
York City (Gage, 2019). She contended that giving tax breaks to Amazon by over a
billion dollars would have meant less money for the crumbling subway system in New
York. However, her criticism was short-sighted as the benefits of having a highly
successful company such as Amazon would have far outweighed the negatives of the tax
break. When you consider the number of employees Amazon would have hired, the taxes
it would have ended up paying in the long term, and the community investment it would
have made, there was a more significant benefit in incentivizing businesses to invest in
the municipality.
First, consider the fact that Amazon would have hired a vast number of
employees, not mentioning that majority of them would have either been local NYC
residents or out of town individuals who would have moved to New York, bought homes,
paid taxes, and invested in the New York Community. For every person that would have
been a low wage, there would have been a lot more who were making a very nice living
for themselves (Maharjan, 2018). But this was an opportunity foregone by foregoing
Amazon in NYC.
LOCAL GOVERNMENTS AND INCENTIVES
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Second to consider is the amount of taxes Amazon would have ended up paying.
It is important to understand that thirty year...