Deals sealed by market forces pay off best

Who said Rhode Island can’t lure new businesses without offering some sort of government-sponsored sweetener to close the deal? During a time of heightened cross-border competition for businesses and new jobs, Rhode Island – with its perceived high costs of doing business – often seems at a disadvantage. While tax breaks can pay off, especially with larger employers, it is often more cost-effective to let local communities and landlords sell themselves, without government intervention. More

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PBN Editorial

Deals sealed by market forces pay off best

Posted 12/5/11

Who said Rhode Island can’t lure new businesses without offering some sort of government-sponsored sweetener to close the deal? During a time of heightened cross-border competition for businesses and new jobs, Rhode Island – with its perceived high costs of doing business – often seems at a disadvantage. While tax breaks can pay off, especially with larger employers, it is often more cost-effective to let local communities and landlords sell themselves, without government intervention.

Such was the case with Mantrose-Haeuser Co.’s decision to move its labs from Attleboro to Lincoln this fall. The company says it neither sought nor received any state assistance in moving approximately 13 employees to a much larger space.

That’s because it found a suitable property and a landlord, F.H. French, eager to accommodate its expansion needs. The company signed a 10-year lease, with a promise that if it continues to grow, the landlord will find more space in other buildings it owns.

Business deals sealed by market forces – and mutual self-interest – have the best chance of lasting, to everyone’s benefit, including the state. •

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