- Chris Manheim
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CB Richard Ellis’s Incentives Rankings Are Realistic
I was recently asked to comment on CB Richard Ellis’ recent “EIG State Incentives Ranking Report” as an Certified Economic Developer who has been practicing in Illinois for nearly 30 years.
Click on the link and take a look at the map and state rankings list that’s generated. Illinois, Indiana and Iowa are marked “competitive.” What’s interesting is that CBRE ranks Wisconsin as “noncompetitive” because many of the border commercial parks near Illinois (e.g., Kenosha, Pleasant Prairie) have almost always been able to out-incentive northern Illinois. And my broker colleagues at CB Richard Ellis, when trying to close a transaction, are quick to point out Wisconsin’s advantages.
Next, look at the “Aggressive” dark green states, which now include Michigan. Most are in the south, but Ohio and the Central Plains states have also moved into the aggressive category. These state economic development programs are traditionally market-focused and easy to do business with. The older rust belt states, with high unemployment, have had little choice but to increase their competitiveness to just retain jobs.
Chris Manheim is a guest blogger for Alter NOW. He is the President of Manheim Solutions, Inc., a consulting firm specializing in community, workforce and small business economic development programs.