This is an interesting article published by CoStar about Amazon.com. While the issue of economice development funds is interesting in and of itself, Amazon like the rest of the e-tail industry is unhappy about state laws that require it to collect sales tax on on-line sales. In this case, Amazon abandoned a $100,000,000 proposed facility that would have created 1,250 jobs in SC because the state did not pass a law to exempt Amazon from having to collect the tax.
http://www.costar.com/News/Article/Amazoncom-Flexes-Real-Estate-Jobs-Muscle-In-Location-Decisions/128728
The practice of Economic Development is in my experience an uncertain science. States and municipalities regularly compete for large projects that would create new jobs and provide stimulus to the economy. The results are sometimes unpredictable.
What are your thoughts on this issue? Should the state be willing for forgo large tax receipts in exchange for the jobs and the investment in the community? I think that it is an interesting question.
Have a great day, all.
David
David W McCoy
Associate Broker
Commonwealth Commercial Real Estate
10444 Bluegrass Pkwy
Louisville, KY 40299
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