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

Bob Chirinko and Daniel Wilson

No 2023-01, Working Paper Series from Federal Reserve Bank of San Francisco

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: fiscal policies; job creation; tax policy (search for similar items in EconPapers)
Pages: 21
Date: 2023-01-13
New Economics Papers: this item is included in nep-pbe
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.frbsf.org/wp-content/uploads/sites/4/wp2023-01.pdf Full text - article PDF (application/pdf)

Related works:
Working Paper: Fiscal Policies for Job Creation and Innovation: The Experiences of US States (2022)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedfwp:95485

Ordering information: This working paper can be ordered from

DOI: 10.24148/wp2023-01

Access Statistics for this paper

More papers in Working Paper Series from Federal Reserve Bank of San Francisco Contact information at EDIRC.
Bibliographic data for series maintained by Federal Reserve Bank of San Francisco Research Library ().