Fiscal Policies for Job Creation and Innovation: The Experiences of US States

Bob Chirinko and Daniel Wilson

No 10158, CESifo Working Paper Series from CESifo

Abstract: This paper reviews selected fiscal policy initiatives undertaken by US states to encourage job creation and innovation. We begin with a discussion of some general considerations about the design of tax policies summarized in a tax policy design table. Four policies are reviewed: job creation tax credits, research and development tax credits, a set of tax policies targeted to the biotechnology industry, and a broad set of tax policies that attract star scientists. The experiences at the state level are used to evaluate the effectiveness of these employment and knowledge-capital tax incentives in creating jobs and spurring innovation. The paper concludes with four other considerations need to be taken into account in selecting policies.

Keywords: targeted state fiscal policies; employment tax incentives; job creation; knowledge-capital tax incentives; innovation (search for similar items in EconPapers)
JEL-codes: H25 H71 (search for similar items in EconPapers)
Date: 2022
New Economics Papers: this item is included in nep-ino, nep-pbe, nep-sbm and nep-ure
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Working Paper: Fiscal Policies for Job Creation and Innovation: The Experiences of US States (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_10158

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