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Local cities roll out the red carpet (and Olympics tickets) for businesses they want to woo

November 10th, 2009 · 5 Comments

One more story from the mystifying world of contemporary economics, where everyone strives to attract new businesses and investors to their globally competitive cities, but no one is sure quite what works.

Categories: Uncategorized

  • jimmy olson

    Throw a hundred darts, and one will hit the bulls-eye… or it should in theory. Likewise with $. Throw out 1.5mill and hopefully 2mill flows back. But I bet Jimmy Pattison doesn’t operate this way… 😉

  • madman

    Any enterprising reporter out there want to track down that list of 100 invitees, then check a year from now how many have set up operations here? My bet? Zero.

  • Not Running for Mayor

    You don’t attract businesses, you attract the type of people that create businesses. City building 101.

  • Blaffergassted

    Tax breaks, low wages, non-union work forces and minimal regulations tend to do the trick.

    But the free Olympic tickets and luxury hotel accommodations are a nice touch, too!

    BTW there’s a glaring oopsy in the third graph … an editing error, no doubt.

  • Gassy Jack’s Ghost

    Gee, I must have a newer, less anachronistic copy of City Building 101 than NFRM, because my copy says that, “if you invest in education, local small businesses and infrastructure, then innovation and commerce will grow organically, thrive and expand over time. Being populated with local ownership and employees, homegrown enterprises will be more likely to stick around for the long-term, and not fold their tents at the first sign of economic trouble or better offers/incentives from other jurisdictions. Furthermore, such local entrepreneurs will, once established, invest in other community initiatives and programs, and profits will be spent locally and help spur new investments and economic benefits, rather than being siphoned offshore and out of the local economy. Finally, locally-owned businesses are far more likely to initiate and engage in environmentally and socially sustainable business practices than a large corporation with no longstanding ties to the community.”

    Of course, if you don’t give a shit about the people and businesses who inhabit the region that you govern, and are just looking to make a quick buck off corporate overlords to balance your budget, I guess project Paradise Powerhouse might seem like a no-brainer. The local shmooze industry is, after all, thriving these days, and its most ardent disciples are the powers that be….

    But to think, it was only two months ago that we lowly, dumb, and uncreative citizens were being told in no uncertain terms that “the cupboard is bare”.