Missouri is one of six “Best Practices” states in transparency and evaluation of the economic impacts of incentive programs, according to Investment Consulting Associates. ICA assessed all 50 states on their openness in communicating the economic and social impacts of incentive programs.
ICA cross-referenced their findings with research from the PEW Charitable Trusts on the evaluation of incentive effectiveness, and found that evaluation and openness appear to go hand-in-hand. States with high evaluation scores also tend to score high on openness, and vice versa.
“It’s gratifying to note that there is a positive correlation between transparency and effectiveness,” Chis Steele, COO and President of ICA North America said.
ICA found this correlation contributes to the overall performance and quality of tax incentive programs, as those states that perform well on openness and in evaluating effectiveness offer more high-quality incentive programs.