Missouri Partnership CEO, Subash Alias, recently published an article on Born2Invest that highlights the “Four Trends That Need to Be Considered When Driving Regional Economic Development Initiatives.” Check out the full article here.
To become the preferential choice for companies interested in business expansion and set themselves up for a robust post-pandemic recovery, every community must consider several trends. In doing so, they will accelerate business growth and economic development initiatives in their regions.
Regulatory and Tax Considerations: Aligning Fiscal Structures
Each state is different from its neighbors. That’s why everyone involved in economic development initiatives and business growth must have a handle on the differing tax and regulatory structures.
Understanding tax and regulatory nuances is essential to foster a sense of trust in the relationship between the state and business entity. Being in a state or community with locked-in business-friendly policies is also important. For example, consider Missouri’s incentives, such as tax credits. These types of incentives, combined with other factors, make Missouri attractive to company leaders.
Ultimately, regulatory and tax advantages are critical to profit. States and communities with business-friendly policies already in place automatically show that they are good locations for businesses.
Check out the full article here to view the full list of trends that need to be considered when driving regional economic development initiatives.