Give Them A Chance To Grow

Give Them A Chance To Grow

 Economic Development initiatives are all but standard when major corporations look around where and when to develop and plan their next move.

Whether you agree with these strategies or not, tax dollars are at work trying to attract and negotiate economic catalysts for their cities throughout North America and around the world. 

With corporate headquarters come jobs for their city’s citizens, enlargement of the commercial tax base and a potential synergy that could have a ripple effect throughout their local economies.

Case in point, MassDevelopment assisted GE (NYSE:GE, $279 Billion market capitalization)

with $57.4 million in finalizing an $ 83 million land deal, the future headquarter site. 

The Fort Point property in the Greater Boston Area is a 2.5 acre site.

 According to an article by Catherine Carlock in the Boston Business Journal, this was the balance of 

“GE’s $120 million state tax incentive package to acquire two historic

warehouses on Necco Court.”

The plan calls for GE to invest $ 200 million in the project, that will include constructing

 a 12 storey 295,000 square foot office and renovating the two historic properties.

Business incubators work to assist start-ups by providing a good environment and

supports to encourage and nurture the evolution of that new business idea.

Reasonably low cost office/industrial space, shared work areas and experienced business people around to mentor and provide some guidance make these incubators an excellent platform to consider when launching a new concept. 

There should be a new class of property tax or grant money to assist with these specific uses along with hydro/internet/permit/loan incentives for these businesses for a short start up duration. 

City official plans and zoning-bylaws need to be updated dramatically to be more forward looking, be flexible and accept new uses. Understand the evolution of human behavior and adopt better planning solutions to deal with changes and disruptors.

It is not business as usual, anymore – wake up to reality.

Such as Uber and Air BNB, just to name two changes to the landscape of uses. 

Here is an idea, planning should understand human activity and behavior and work with it and not necessarily fight it. Yes we need and want safety and healthy standards for our citizens, but if you can’t control it and have no resources to enforce it and the whole thing is counter-productive anyway – why bother making it a law?

 It’s time to change it, as society becomes more efficient in how things run.

 Let’s grow up to reality and work with reasonable strategies.

 Yes cities can help in the effort to make their centers more attractive and receptive to enterprising concepts with the use of better planning tools. 

What’s the old expression : “Lead, Follow or Just get out of the Way.” There is some wisdom here that cities should pay attention to, or they will forever be buying short term jobs with hard earned tax payer dollars. 

Tax them when they grow and have the ability to pay their way as they employ, innovative/ creative ideas and enrich our lives.

No don’t just give it away, cities should have a comprehensive plan with areas of focus (industries), so that they can get the most bang for your tax dollars, within a reasonable timeline.   

Why is it that established businesses (those that don’t really need any help) seem to get the tax assistance/concessions and dollars to be motivated to locate in your city? Maybe because cities like people want instant gratification/results within an electoral cycle.

So that politician can say look, see what I was able to do for you as your elected member. 

No career politicians. If you have a better way of doing things go for it, otherwise these old politicians with old frames of references should just move along and let the new/fresh blood in.  

Yeah with taxpayer’s dollars being given away to buy those jobs artificially, this may not be sustainable and may become a bigger problem when the incentives run their course.

That’s an old-school idea. 

New and better ways must be found and ultilized.

 Unless there is a real drive to ramp up the strategic area of focus (industry/design/medical research) and achieve a critical mass of like companies that can sustain themselves in a competitive world, your city will eventually lose out to other more innovative, progressive and warmer/sunny areas of the globe. 

Business incubators are a great idea and with the right composition, talent and support can grow meaningful ideas into viable businesses that should have a chance to grow. 

Everyone must be prepared to take some measured risk with the new concepts and not just support the same old structures and processes. 

Our needs are great and other cities around the world want to eat your lunch. 

We want to help build and inspire a great world class city, call us for all your real estate needs. We have a wide range of services in Real Estate Brokerage (Buying/Selling/Leasing), Consulting in Asset and Property Management, Building/Development and Financial arrangements in the Greater Toronto Area.

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