Subsidies and Crony Capitalism

3 min read

Large corporations play a game with local and state governments for big dollars, but only one side puts up any money. Corporations try to convince bureaucrats to reward their companies for doing something that they probably would have done anyway. Corporations, in their very own RFP process, invite bids from several state and local governments to see which one will give them the largest incentives to locate within their geographical boundaries. Is it economically justified for governments to be part of this crap shoot? Almost always, the answer is no. If it is an existing American company relocating from New…...

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Tom Campenni Before Retiring Tom Campenni was a R.E. Broker and owner of a real estate consultancy in NYC for almost 50 years. He was a City Commissioner and Mayor in Stuart Florida. He now writes a blog, Martin County Moment, a newsletter, Friends & Neighbors in Martin County, and articles on government and finance.