An increasing number of states are moving to privatize some or all of their economic development efforts, according to a recent article on Stateline.org, a nonpartisan news site funded by the Pew Charitable Trusts. States that have privatized aspects of their economic development functions include Florida, Indiana, Michigan, Texas, Utah, and Virginia. Other states considering proposals to privatize include Arizona, Iowa, Ohio and Wisconsin.
States choosing to privatize structure their plans in different ways, with varying levels of involvement and oversight by government officials. Privatization efforts have shown mixed results. The issue can be summarized as “how to empower business leaders to play a more meaningful role in state economic development efforts without sacrificing the accountability and transparency with which public funds are used[.]”
