Franklin County officials have released a new assessment of the use and effectiveness of tax incentives across the Ohio jurisdiction, revealing both an expansion in the number of deals offered and growing concerns about their economic value. The 2025 Tax Incentive Review Council (TIRC) Report, published on Wednesday by Franklin County Auditor Michael Stinziano, presents a detailed picture of how local authorities are deploying public incentives and whether these programmes are fulfilling their intended purpose.
The study forms part of an annual review required under Ohio state law, which appoints the county auditor as chair of all TIRC meetings. The latest report covers activity across 24 municipalities that utilised tax incentive mechanisms over the past year. These incentives — often used to attract investment, support job creation, or encourage redevelopment — have become a significant feature of regional economic policy.
Economists Highlight Declining Effectiveness
A key component of the 2025 report is an updated economic analysis carried out by two independent economists. Their work revisits a 2017 study by the Lincoln Institute of Land Policy, a research organisation known for its evaluations of tax and land-use policy in the United States. Using more recent data, the economists sought to determine whether the incentives currently offered in Franklin County are delivering measurable benefits.
Their findings indicate a marked rise in the overall use of tax incentives since the earlier study. However, they also point to a decline in the effectiveness of such programmes. According to the updated assessment, the economists found that in many cases, incentives are offering limited or even negligible returns to local communities. This suggests that while more incentive agreements are being approved, their real-world impact may be diminishing.
The report highlights a growing tension familiar to local governments worldwide: balancing the need to remain competitive in attracting businesses while ensuring that public resources are directed toward genuinely productive outcomes. As municipalities continue to introduce or extend incentive agreements, questions are emerging about whether these mechanisms are being deployed strategically or simply as routine policy tools.
Stinziano Calls for Transparency and Accountability
Auditor Stinziano emphasised the importance of transparency and accountability as the use of incentives expands. “As the use of tax incentives continues to rise in Franklin County, the 2025 TIRC Report is an opportunity for your Auditor’s office to show residents and businesses how incentives are being used in your community and whether they are working as they are supposed to,” he said.
His office has made the annual report a recurring exercise, now in its sixth year, aiming to provide residents, policymakers, and businesses with a clearer understanding of how incentive agreements are formed and managed. Stinziano has consistently positioned the TIRC process as a tool not only for compliance, but also for public engagement — ensuring that taxpayers can see whether development programmes are yielding the promised benefits.
Implications for Future Local Policy
The findings may prompt further discussion among municipal leaders regarding the future of incentive strategies. While local governments often rely on such tools to secure investment and compete with neighbouring jurisdictions, the latest data underscores the need to evaluate whether the incentives are driving genuine economic growth or simply reducing tax revenues without commensurate public benefit.
This year’s analysis also reinforces a broader national trend: many US regions continue to escalate their use of development incentives, even as evidence mounts questioning their overall effectiveness. Economic researchers and policy analysts have warned that in highly competitive markets, incentives can sometimes amount to a zero-sum game, shifting business activity from one area to another rather than creating new economic value.
Report Now Available to the Public
The full TIRC Report, including the economists’ updated analysis, has been made available through the Auditor’s office. Residents and stakeholders can access the documents via the Tax Incentive Hub on the County Auditor’s website, where detailed breakdowns of each municipality’s incentive agreements are provided.
As municipalities across Franklin County consider future projects and partnerships, the 2025 report is likely to serve as a focal point for debate. With the documented increase in incentive use but declining effectiveness, local leaders may face mounting pressure to reassess how such programmes are structured, monitored, and justified to the public.
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