New Dashboard Brings Greater Transparency to Economic Incentives
The Comptroller’s division of Local Government Finance working with the State Board of Equalization has launched a new interactive map and dashboard that highlights how local governments are using economic incentive tools to attract industry and jobs to their communities.
The new dashboard shows how local governments through entities, such as industrial development boards, are utilizing payment in lieu of tax agreements (PILOTs), tax increment financing plans (TIFs), and debt to incentivize job growth and economic development. The data within the dashboard is based on information that is required to be reported to the Comptroller’s Office each year.
68 of Tennessee’s 95 counties utilize at least one of these tools to promote economic development. Shelby County, for example, has the most PILOT agreements of any county in the state. In fiscal year 2023, 528 PILOT agreements were reported in Shelby County. Data related to each of these can be viewed within the dashboard.
“I’m thankful this new dashboard provides greater transparency about how local governments are using economic development incentives,” said Comptroller Mumpower. “While these incentives can be an important tool in creating jobs and attracting businesses, it’s important for governments to use them wisely. Tax incentives should be offset with a clear benefit to the community.”
The Comptroller’s Office will update the dashboard each year as new information is reported to our Office.
To view the new interactive map and dashboard, visit tncot.cc/econdev
If you suspect fraud, waste, or abuse of public money in Tennessee, call the Comptroller’s toll-free hotline at 800.232.5454, or file a report online at: tncot.cc/fraud. Follow us on X/Twitter @TNCOT and Instagram @tncot
Media contact: John Dunn, Director of Communications, 615.401.7755 or john.dunn@cot.tn.gov
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