The Metropolitan Philadelphia Indicators Project (MPIP") surveyed 1,000 residents from the Philadelphia region to ask them what factors they considered when deciding where to live. Results from the 2004 survey are presented in this chart. For individuals (as opposed to businesses), it’s apparent that taxes are not a primary factor driving relocation decisions. Rather, safety, value of the housing dollar, and school quality are factors given the greatest weight. But maybe that's too simplified. Maybe individuals articulate their primary motivations for living in one place or another differently than businesses, but are essentially expressing the same concerns; people - like businesses - place a great importance on getting value for their money or retaining wealth. For individuals, considerations are broader - they want schools, safety, quality of life, etc. Businesses, while their constituent workers may value the things that individuals do, are more narrowly focused on profits and the bottom line. So, I wouldn't conclude that taxes aren't important to individuals, the concern about value just manifests itself differently than in businesses. In the end, the concerns of businesses and individuals meld together; we as a City need to think about ways to create incentives for both to stay in Philadelphia, whether it be through targeted tax reductions/reform or enhanced services. The MPIP is administered by Temple University.
Tuesday, December 20, 2005
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