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The Main Street Fund

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The Main Street Fund

Investing in an Entrepreneurial Economy

Brookings Institution,

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Smart incentives could boost entrepreneurship, an important part of the US economy’s growth.

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Recommendation

Experts point to entrepreneurship as a driving force for the United States’ long-run growth trajectory. And while accelerators, incubators and venture capital find and shepherd young start-ups, data show that entrepreneurs have been forming fewer businesses since the 1980s. Professor Aaron K. Chatterji contends that a national “Main Street Fund” would favor state programs benefiting small business creation. getAbstract recommends this authoritative and solutions-based report to entrepreneurs and those who support them.

Summary

The buzz over Amazon’s decision in 2017 to create a second US headquarters spurred governors, mayors and economic development professionals across the country into action. Their mission: to develop robust financial incentive packages aimed at drawing the e-commerce giant to their locales. This high-profile opportunity triggered dozens of hefty bids, including $7 billion in tax incentives from New Jersey and $6 billion from Maryland.

Amazon is but one example of a long-running model that annually directs $45 billion to $80 billion in ...

About the Author

Aaron K. Chatterji is an associate professor at the Duke Fuqua School of Business.

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