Triad Business Journal ran a story today with the headline, Developer pushes agtech ‘mega campus’ forward in Research Triangle Park. This is good news!
I’ve written before about why it’s a bad idea for local governments to set up business parks or build industrial megasites or buy land in an attempt to attract business. And this story illustrates exactly what I’ve talked about. This is a private company acquiring land and developing a hub. They’re doing it because they see the companies and universities and talent pool in the area and believe it’s a profitable place to be. They’ll benefit financially, jobs will likely be created, and it will be a boost for the local economy. All of that without costing the taxpayers anything.
Local governments don’t need to do these things, because where it makes good sense, businesses will do it themselves.
