Discussion on the efficiency of existing economic development tax incentives

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Council Member Farías raises concerns about the efficiency of the city's existing economic development tax incentives, which amount to over $3.3 billion annually. She questions whether all these incentives are working as efficiently as they could.

Farías notes that many tax incentive programs remain unchanged from when they were developed years or decades ago
She emphasizes the need to evaluate these programs given the city's limited resources
The question sets the stage for a more detailed discussion on various tax incentive programs

Amanda Farías

1:48:46

And then last year, had a discussion about finding savings in the city's tax expenditures.

1:48:51

We spend over 3,300,000,000.0 annually in tax breaks to encourage economic development in the city.

1:48:57

While much of this represents commitments made years ago, many of the same tax incentive programs still remain on the books and are unchanged from when they were developed years and in some cases decades ago.

1:49:08

Considering the limited resources we have, do you believe that each and every single one of the city's existing economic development tax incentives are working as efficiently as they could?

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Overview of various economic development tax incentive programs and their impacts

Discussion on the efficiency of existing economic development tax incentives

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