Tax increment financing districts can be a good tool when used appropriately. That was the message from Iowa State University economist Dave Swenson.
He spoke in Yankton and Tyndall (yesterday) about the use of TIF districts by local governments.
Swenson says they can be easily misused…
Swenson says a TIF district uses public resources, namely taxes, as a way to finance improvements to attract businesses. He says that should lead to a public debate…
A proposed rail grain loading facility first to be located in Yankton County, now aiming at Bon Homme County wants to use TIF funds for road improvements.
Swenson says public dollars used for business incentives are often driven by fear…
Swenson says most companies that ask for public incentives are either “needy or greedy.” He says the public has to be more involved in those type of tax discussions.
