Review Tax Abatement Policy Carefully
Published: July 24, 2006
The Grand Rapids city economic development team is creating a new policy that would allow a reapplication of sorts for Renaissance Zone tax abatements, as those abatements expire. The city awarded the first Ren Zone abatements in 1997 and those expire in just three years. City economic development staff is using a number of criteria for limited extended tax credits, but topping that list is the number of jobs created. Such a requirement may satisfy the politicians on the city commission, but inexplicably ignores every economic analyst's evidence that jobs — especially manufacturing jobs — will not be created in the great numbers of the last century. That is particularly notable in the technology industries, which the city would be pleased to attract in greater number.

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