> Businesses open to support the new residents and are taxed.

But why? Why should mom-n-pop have a higher fiscal hurdle than MegaCorp? If tax breaks are so good, why not give them to everyone?

> What the city may lose in corporate taxes is more than regained through the increase in revenue from middle class population growth

Then MegaCorp shouldn't have any qualms about entering into a binding agreement that the economic bounty will come, or else MegaCorp pays a penalty equal to that bounty. I wonder why they don't do that?