Politicians often focus on luring large companies into their communities by providing huge tax breaks and other incentives. Indeed, Illinois policymakers have spent immense sums of money attempting to entice corporations to move into the state.

Providing these tax incentives to large companies can put small businesses at a disadvantage and often results in government employees picking winners and losers. While there are more arguments against employing an economic development strategy reliant on providing large and individualized tax incentives to sizable companies, this piece focuses on alternative strategies for economic growth in Illinois.

Local investment in small businesses can support neighborhoods and grow our economy. It can create wealth and jobs in communities throughout Illinois, including those struggling to foster economic development. One vehicle that can support local small…

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