Stuck-on-Stupid ‘Economic Development’

Albuquerque Economic Development, a “private” organization, is receiving $80,000 from city taxpayers to hire CBRE Consulting’s John Rocca. The Southern Californian will be charged with finding “50 qualified companies interested in expansion or relocation,” and arranging “for AED to be in one-on-one meetings with those firms,” president and CEO Gary Tonjes told Albuquerque Business First.

It’s more of the same — government picking winners and losers, rather than lowering the tax burden, enacting regulatory relief, passing a right-to-work law, and promoting a more capable workforce through school choice.

Elsewhere, doubts about states’ giveaways to businesses are growing. Oklahoma’s governor recently signed legislation “to sort out effective incentives from ineffective ones.” While not an elimination of corporate welfare, it’s an acknowledgement that oversight is long overdue.

As for film-production freebies, many states — including Michigan, Louisiana, Florida, Texas, and Massachusetts — are rethinking handouts to Hollywood. Don’t look for New Mexico to join the club.