Bait & Switch: "Economic Development" in the States

Bait & Switch: “Economic Development” in the States by Jeff Scribner, Mises Institute North Carolina recently offered Boeing $683 million in tax incentives to open a plant in North Carolina to build Boeing’s new 777X jetliner. The NC bid failed, as did those from some other states, when Boeing decided to build the 777X in its home state of Washington where there is no state, personal, or corporate income tax. More recently, North Carolina was prepared to offer Toyota up to $107 million worth of incentives to lure the automaker’s North American headquarters from Los Angeles to Charlotte, bringing 2,900…