Economic Development Futures Journal

Tuesday, March 07, 2006

counter statistics

Does Massachusetts Spend Too Much on Incentives?

That question was thrown in the midst of a recent Boston Globe article on why the Commonwealth needs to give more attention to workforce development as a part of its overall economic development strategy.

Here is the statement by Joan Fitzgerald: "For starters, too much of the state's focus is on providing incentives for firms to locate here rather than investing in the workforce that will keep them here once they go into manufacturing. In 2003, Governor Mitt Romney launched the ''Massachusetts, It's All Here" marketing campaign, whose first phase was to attract bio-manufacturing and medical device producers. Another Romney economic development initiative set aside $125 million in subsidies to attract bio-pharmaceutical and medical device companies that create manufacturing jobs."

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