Can you say SCAM! Here is how many work: The city sets of a quasi private Corp to attract and develop economic growth. This is connected to a small office in the city which funnels money to them to bring in Amazon or whatever. The corp is owned by people that are faceless and nameless. The corp is lightly staffed with a CEO and a few admins. The CEO is a front man and a step and fetch it for the nameless folks who own it. Money changes hands and is passed around ike candy at halloween. Things are an easy sell inside the city and to the taxpayers because they are not getting taxes now and when the new company moves in it will hire up and all we have to do is let the taxes slide for x years. Sounds like FREE. Well its anything but.
The company save lets just say $1M Large over the first 5 years. So a good deal to the company would be to spread around a $Half Million in local contracts and you can guess who gets those. The owners of the Economic Dev Corp, know years in advance that BFD Inc is coming to town in 2 years. Now the fat really gets juicy. There is an old homestead on the outskirts of town, a group buys them out for some future development. The city now paves the road, and puts in utilities, now the land is worth MEGA, and the group that bought it from Ma and Pa Kettle buy the acre sell it by the square ft to another group who may end up selling it to the city, who will sell it to the BFD Corp that is coming in.
Every one of those flips, flips BIG $$$ profits and a lot of people in the city and behind the scenes make a LOT of money. The CEO of the Eco Dev Corp. They usually retire from the job after about 5-10 years and rarely stay in town. Always something about moving closer to family. They leave and sell their modest home and build a multi million home in some retirement city. It goes like this just about everywhere. How do I know. I used to be a Real Estate developer and was brought in by some very successful developers that I hunted with. The big money is made in the back room deals…I found it not to my liking and left after a few years. Maybe its not illegal (???) but the ethics were unacceptable…so I left