by Kelley Rendziperis, on Jun 12, 2026 10:00:00 AM
Overall, approximately $16.79 billion of economic incentives were awarded in 2025 across all industries and project types. Companies committed to investing over $166 billion and creating over 564,000 new jobs last year, resulting in an average return on investment of 10.8% and $25,204 per job.
To help develop an economic incentive strategy, Site Selection Group summarizes economic incentive trends and market conditions by state in the 2026 Economic Incentives U.S. Market Report. The information contained in this report is typically reflective of publicly available state-level awards. All data used for the current year report and for prior year comparisons are reflective of data reported at the time of publication.
Economic Incentive Market Trends
In 2025, the number of reported economic incentive awards increased slightly from the prior year; however, the $16.8 billion total value of economic incentives awarded was significantly lower than in 2024 and more in line with 2023. As discussed in the prior year report, the spike in the value of awards in 2024 was primarily a result of federal funding initiatives.
Total Economic Incentives Awarded, 2021 - 2025
States Reporting the Largest Cumulative Economic Incentive Awards
The following table identifies the top 10 states with the most reported economic incentive awards in 2025. These awards in total account for 73% of all announced awards.
Top 10 States, Total Economic Incentives Awarded (USD m)
Top Notable Economic Incentive Programs
The following table highlights some of the more utilized state economic incentive programs by value in 2025.
Program Name |
Economic Incentives ($M) |
Total # of Deals |
| North Carolina Job Development Investment Grant | $1,320.00 | 26 |
| Kentucky Jobs Retention Act | $663.50 | 2 |
| New York Excelsior Jobs Program | $377.50 | 237 |
| Ohio JobsOhio Economic Development Grant | $359.70 | 75 |
The North Carolina Job Development Investment Grant program awarded the most economic incentives, with more than $1 billion of such benefits being awarded to JetZero, Inc., which is highlighted below. The Kentucky Jobs Retention Act (KJRA) was the next most leveraged program despite reporting only two projects. Ford Motor Company was the largest recipient of the KJRA with a $550 million incentive, the third largest economic development project in the state’s history, for its $1.9 billion upgrade to its Louisville assembly plant, creating 2,200 new jobs, to manufacture an electric mid-sized pickup truck. GE Appliances was the other recipient of the KJRA for its expansion at GE’s Appliance Park in Louisville, committing to $490 million in investment and 800 jobs.
Conclusion
To learn more about the most utilized economic incentive programs in the U.S., as well as notable 2025 projects and a comparison of economic incentive conditions by state, please review our 2026 Economic Incentives U.S. Market Report.
