Report: Large Economic Incentives Like Those in Tennessee Increasing Exponentially

Billion-dollar economic incentives, including the one that Tennessee gave to Ford for its plan to build a $5.6 billion electric truck plant outside Memphis, are increasing across the country, according to a new report from The Center for Economic Accountability.

And while fewer economic incentives have been awarded during the past two years, the average amounts of those incentives have increased significantly even in inflation-adjusted funds.

While the Tennessee Legislature approved $884 million in incentives toward Ford’s Blue Oval City in a special session last fall, the overall incentive package for the project is expected to exceed $1 billion.

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Report: Large Economic Incentives Like in Tennessee Benefit Politicians Who Approved Them

Economic incentives from states such as Tennessee toward private businesses looking to move to the state continue to increase.

But academic research shows that the largest impact of the spending of public dollars is to bring political and financial benefit to the politicians who approve those incentives.

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Tennessee State Senator Mike Bell Explains Why He Voted for Ford Motor Company and Economic Incentives

Mike Bell

Tuesday morning on the Tennessee Star Report, host Michael Patrick Leahy welcomed retiring State Senator Mike Bell in studio to discuss why he voted for Ford Motor Company Megasite.

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