Local governments will come up with creative ways to boost their economy, bringi
ID: 2816479 • Letter: L
Question
Local governments will come up with creative ways to boost their economy, bringing businesses into their communities brings money in both for the economy as well as for taxes. What are some creative ways to bring these types of economic activity which can establish and promote economic development? Local governments will come up with creative ways to boost their economy, bringing businesses into their communities brings money in both for the economy as well as for taxes. What are some creative ways to bring these types of economic activity which can establish and promote economic development?Explanation / Answer
Some of the creative ways to promote economic growth are discussed below.
1. Governments can promote innovation which prove to be ultimate job creators who are willing to take risk. This may be done by giving various tax incentives and holidays to the innovative startups.
2. Governments can relax their immigration rules and regulations. This can pull in skilled immigrants into the country which will create more jobs and economic growth.
3. Removal of red tape in the process of economic growth will help in boosting the economy. Governments can remove the unnecessary and unfair laws which are no longer relevant.
4. Encouraging startups by having new acts in place which make the process of starting up new businesses easier and faster is a good way of boosting the economy.
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