City officials may soon tighten up their procedures when it comes to offering incentives to new business.
Austin Business Journal Editor Colin Pope said the city has run the gamut when offering perks to companies. On a case-by-case basis, businesses have received everything from property tax breaks to cash in hand.
Recently, tech company HID Global applied for city incentives. In turn, the council asked HID officials to provide a certain standard of wages for its employees. It was a request that HID Global didn't expect and the deal has gone stale for now.
Now, the city may make a more detailed outline for how incentives are distributed. Find out more in this edition of “Business Now” in the video above.