Economic development is often the goal for political officials serving an area in decline or that has already hit rock bottom. Many times big businesses and retail are sought out to help bring a vibrant economic market back to the area. However, in order to this huge financial incentives are provided wealthy companies and big box retailers to locate in the area, while smaller, local businesses are forced out.
Should we be concerned about this and assume that these smaller businesses completely lose out by either being bought out or not being able to compete?
Or should we assume that these smaller businesses become better off by maybe being able to profit from negotiating the sale of their space with developers?
Has anyone heard of any effective ways a city has chosen to deal with this issue?