Question

Read the “Local Communities as Stakeholders: Does Amazon Really Need Tax Breaks?” example on p. 83 in Ch. 3 of Management: A Practical Introduction. In your response, discuss whether you feel that tax breaks for big companies benefit local communities. Describe ways to attract business to a region without having a negative impact on the larger community.

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Answer to a math question Read the “Local Communities as Stakeholders: Does Amazon Really Need Tax Breaks?” example on p. 83 in Ch. 3 of Management: A Practical Introduction. In your response, discuss whether you feel that tax breaks for big companies benefit local communities. Describe ways to attract business to a region without having a negative impact on the larger community.

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Nash
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To discuss whether tax breaks for big companies benefit local communities, we need to consider their potential effects. Tax breaks for big companies can attract businesses to a region and create job opportunities, as companies may choose to expand or set up new facilities due to the financial incentives. This can lead to economic growth and increased revenue for the local government through taxes paid by these companies and their employees.

However, there are arguments against providing tax breaks to big companies. Critics argue that these tax breaks may not necessarily lead to long-term benefits for the local community. Some companies may take advantage of the tax breaks without significantly contributing to the local economy or creating jobs. Moreover, these tax breaks can result in a loss of tax revenue for the local government, which may impact the funding of essential public services and infrastructure improvements.

To attract businesses to a region without having a negative impact on the larger community, alternative approaches can be considered. Here are some ways to achieve this:

1. Invest in infrastructure: Improving the region's infrastructure, such as transportation networks, utilities, and broadband connectivity, can make the area more attractive to businesses without relying solely on tax incentives.

2. Foster a skilled workforce: Developing programs and partnerships with educational institutions to train and equip locals with the skills needed by businesses can be an effective way to attract companies to the region. This can provide companies with a ready pool of talent, which can be a more sustainable advantage than tax breaks.

3. Provide business-friendly support services: Offering streamlined permitting processes, access to business support networks, and resources for entrepreneurs can make a region more attractive to companies.

4. Encourage entrepreneurship and innovation: Promoting an environment that fosters innovation and entrepreneurship can attract businesses and startups to the region. This can be achieved through incentives for research and development, access to funding, and support from local government and economic development organizations.

In conclusion, tax breaks for big companies can have both positive and negative effects on local communities. While they may attract businesses and stimulate economic growth, they can also result in a loss of tax revenue and questionable long-term benefits. To attract businesses without negatively impacting the larger community, alternative approaches such as investing in infrastructure, fostering a skilled workforce, providing business-friendly support services, and encouraging entrepreneurship and innovation can be effective strategies.

Answer: Tax breaks for big companies can attract businesses and create job opportunities in a region. However, their long-term benefits and impact on the larger community should be carefully evaluated. Alternative approaches like investing in infrastructure, fostering a skilled workforce, providing business-friendly services, and encouraging entrepreneurship can attract businesses without negative effects on the community.

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