Hector H. Sandoval, Chase Benoist, Mark Girson
June 2021

Historically, state and local governments have offered financial investments to attract out-of-state businesses or to retain/expand existing businesses. Advocates for these financial incentives consider this necessary venture capital for overall economic development, while critics see these as a form of corporate welfare. The long-term consequences of these investments are still a mystery despite a long history within governmental policies. In stark contrast, state tax revenue is the primary source of governmental recovery of investments. Utilizing Volusia County’s fiscal records, researchers estimate the number of years to recover the investment as well as a return on investment (ROI).