We’ve criticized the city of Austin’s policies regarding tax breaks that go to large companies, because the threshold for granting them has been too low. It didn’t help that companies already planning to move to Austin got incentive deals. While the new policy passed last week by the council is an improvement, the city still has more work to do to get this one right.
Austin can afford to be selective. Its rebounding economy, hot housing market and vibrant arts, university and technology scenes give it a distinct edge over competing cities. Many companies do relocate here without any tax incentives at all, so the bar for giving away tax breaks must be set high.
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