Amazon’s decision to cancel its HQ2 project in New York, after gauging the local political and community reaction, is a very unfortunate and missed opportunity. It is also a learning opportunity.
Economic development professionals need to educate elected officials and the public that performance-based incentives are necessary to level the playing field when attracting major businesses in a competitive environment. When trying to attract jobs to our region, we cannot just blindly take the side of the corporation. Each deal must be evaluated based on the value of the jobs created and the investment in the region.