Email:听jbundrick@uca.edu
Mr. Jacob Bundrick, a native of northwest Arkansas, is a lecturer of economics at the University of Central Arkansas and an affiliated ACRE Scholar. Prior to joining the BT天堂faculty, he was a full-time policy analyst with ACRE from 2015-2019. His research spans public finance, financial economics, and economic development. Mr. Bundrick鈥檚 research has been published in the听Journal of Regional Analysis and Policy,International Advances in Economic Research,听and the听Review of Regional Studies. His articles have been featured in听Bloomberg BNA, the Baltimore Sun, Dallas Morning News, the Arkansas Democrat-Gazette, Arkansas Business,听and听Talk Business & Politics. He has also been a guest speaker on the听Conduit News Radio, the听Dave Elswick Show, and the听Doc Washburn Show. Mr. Bundrick earned a BBA in economics from the University of Central Arkansas, where he received a scholarship to play football for the BT天堂Bears, and an MS in applied economics from Johns Hopkins University.
Targeted Incentives
Academic Journal Publications:
听by ACRE Scholar Dr. Thomas Snyder and ACRE Policy Analyst Jacob Bundrick.
The study investigates the relationship between providing cash subsidies to select businesses, on the one hand, and, on the other hand, employment and establishments in Arkansas鈥檚 counties. The author鈥檚 find no evidence to suggest that Quick Action Closing Fund subsidies lead to increased employment and business establishments in Arkansas鈥檚 counties. The working paper was published by the Mercatus Center at George Mason University and has been accepted for publication in听The Review of Regional Studies.听You can read a one-page infographic of Bundrick鈥檚 research听here.
Policy Reviews:
Government Accountability: 5 Fixes for Arkansas鈥檚 Quick Action Closing Fundby ACRE Policy Analyst Jacob Bundrick
The Quick Action Closing Fund (QACF) is a targeted economic development incentive program the state of Arkansas uses to try to increase economic activity. This program allows the state government to give cash grants to attract or retain听businesses. It鈥檚 largely up to the Governor of Arkansas to approve these cash grants. Arkansas lawmakers can take steps to improve the transparency and accountability of the program.听Government Accountability: 5 Fixes for Arkansas鈥檚 Quick Action Closing Fund, a policy review written by ACRE Policy Analyst Jacob Bundrick, looks at five different policy proposals that could accomplish these goals.
Tax Breaks & Subsides: Challenging the Arkansas Status Quo听by ACRE Policy Analyst Jacob Bundrick
Have you ever wondered whether tax breaks and subsidies have side effects? Are you curious about alternative ways to grow Arkansas鈥檚 economy? This policy review give an in-depth look at these programs, their economic impact, and some common misconceptions people have about them.
Policy Briefs:
Economic Development or Risky Business: A Citizen鈥檚 Guide to Issue 3, 2016听by听ACRE Scholar Dr. Jeremy Horpedahl and ACRE Policy Analyst Jacob Bundrick
This brief guide gives readers the pros and cons of the controversial ballot measure听Issue 3:听An Amendment to the Arkansas Constitution Concerning Job Creation, Job Expansion and Economic Development. This ballot issue would remove the current cap on Amendment 82 bonds the state may issue for economic development projects and allow local governments to appropriate money for economic development.听Proponents of Issue 3 argue that by removing the limit on the amount of debt the state can issue for听economic development, Arkansas may be able to attract economic-development projects it would not听otherwise be able to secure.听However, issuing debt and using tax dollars for economic development comes at a cost. Arkansas and its cities would take on significant risk by issuing public debt to attract select companies under the change from Issue 3.
Radio:
- On July 15, ACRE Policy Analyst Jacob Bundrick were guests on听听talking to answer questions about Arkansas鈥檚 Quick Action Closing Fund (QACF). He also discussed findings of his academic journal article听鈥溙齢e co-authored with BT天堂Associate Professor of Economics and ACRE Scholar Thomas Snyder.
- On December 22, 2017, ACRE Scholar Dr. Thomas Snyder and ACRE Policy Analyst Jacob Bundrick were guests on听听talking with Dan Harpool about occupational licensing (including the new听听report), Bundrick鈥檚 study of the Quick Action Closing Fund, and all the latest in tax reform news (for both Arkansas and the nation).
- ACRE Scholar Dr. Thomas Snyder and ACRE Policy Analyst Jacob Bundrick were guests on the Paul Harrell Program on December 12, 2017, discussing听their recent working paper entitled 鈥溾�� on the Paul Harrell Program. You can stream the听
- ACRE Director Dr. David Mitchell and Policy Analyst Jacob Bundrick spoke in a 2 hour segment on the听听discussing Arkansas taxation, subsidies, and other state issues on July 13, 2017.
Op-eds/Commentary:
- –听ACRE Policy Analyst Jacob Bundrick was quoted in an article on听Intrafish.com on March 12, 2019, concerning his work on economic development incentives.
- – ACRE Policy Analyst Jacob Bundrick wrote an op-ed that was published in the听Arkansas Democrat-Gazette听on February 12th, 2019. In the op-ed, Bundrick states that good policy requires objective analysis, but that can be hard to do without good data. Bundrick recalls a bill that was introduced in 2017 that would have created an online database for targeted economic development incentives, but was withdrawn after the AEDC stated they would implement this database on their own terms, yet that database still hasn’t been published.
- 听鈥撎鼳n op-ed by ACRE Policy Analyst Jacob Bundrick听was published in the听Arkansas Democrat-Gazette听on November 8th. Bundrick explains academic literature that casts doubt on targeted economic development incentives鈥� role in increasing economic activity and examines the opportunity costs of such policies.
- 听鈥撎�Op-ed published September 14, 2018, by ACRE Policy Analyst Jacob Bundrick听in the听Arkansas Democrat-Gazette.
- 听鈥� op-ed published July 27,听2018 by ACRE Policy Analyst Jacob Bundrick in the听Arkansas Democrat-Gazette.
- 听鈥� op-ed published May 10, 2018, by ACRE Policy Analyst Jacob Bundrick in the听Arkansas Democrat-Gazette.
- 听op-ed published March 19, 2018 by ACRE Policy Analyst Jacob Bundrick in the听Arkansas Democrat-Gazette.
- 听op-ed published January 20,听2018 by ACRE Policy Analyst Jacob Bundrick in the听Arkansas Democrat-Gazette.
- 听op-ed published October 27,听2017 by ACRE policy analyst Jacob Bundrick in the听Arkansas Democrat-Gazette.
- Economic Development Bidding: A Prisoner鈥檚 Dilemma听insight article published October 20,听2017 by ACRE policy analyst Jacob Bundrick in听Bloomberg BNA鈥榮 鈥淒aily Tax Report: State.鈥�
- 听op-ed published听August 26,听2017 by ACRE policy analyst Jacob Bundrick in the听Arkansas Democrat-Gazette.
- Good Jobs Program or Bad Economic Policy?听insight article published听August 10,听2017 by ACRE policy analyst Jacob Bundrick in听Bloomberg BNA鈥榮 鈥淒aily听Tax Report: State.鈥�
- 听commentary published December 7, 2016 by ACRE policy analyst Jacob Bundrick and Dr. Dean Stansel, an economist at Southern Methodist University鈥檚 Cox School of Business in the听Dallas Morning News.
- Film Tax Credits: Job Creator or Just Another Act?听insight article published November 18, 2016 by ACRE policy analyst Jacob Bundrick in听Bloomberg BNA鈥榮 鈥淲eekly State Tax Report.鈥�
- Professional Sports Stadiums: Economic Boon or Boondoggle听insight article published November 11, 2016 by ACRE policy analyst Jacob Bundrick in听Bloomberg BNA鈥榮 鈥淲eekly State Tax Report.鈥�
- 听op-ed published October 22, 2016 by ACRE policy analyst Jacob Bundrick in the听Arkansas Democrat-Gazette.
- Policy analyst Jacob Bundrick鈥檚 recent听blog post听on tax breaks and subsides in Arkansas was recently cited in a听听by Mr. Dane Clark of Fort Smith in the听Lonoke Democrat. Clark鈥檚 letter was circulated in several local Arkansas papers like the听The Helena Arkansas Daily World,听the Fort Smith听Times Record,听and the听Arkansas News Bureau.听This blog post was based on Bundrick鈥檚听recent听policy review,听Tax Breaks and Subsidies:听Challenging听the Arkansas Status Quo.
- op-ed published October 10, 2016 by ACRE policy analyst Jacob Bundrick and听Rajshree Agarwal, the director of the Ed Snider Center for Enterprise and Markets at the University of Maryland鈥檚 Robert H. Smith School of Business in听The Baltimore Sun.
- 听op-ed published September 3rd, 2016 by ACRE policy analyst Jacob Bundrick.听Arkansas Democrat Gazette听and Arkansas Online.
- 听op-ed听published July 16, 2016 by ACRE Policy Analyst Jacob Bundrick.听Arkansas Democrat Gazette听and Arkansas Online.
- 听op-ed published April 9,听2016 by ACRE Policy Analyst Jacob Bundrick.听Arkansas Democrat Gazette听and Arkansas Online.
- 听op-ed published March 7, 2016 by ACRE Policy Analyst Jacob Bundrick.听Arkansas Democrat Gazette听and Arkansas Online.
- 听op-ed published听February 6, 2016 by ACRE Policy Analyst Jacob Bundrick.听Arkansas Democrat Gazette听and Arkansas Online.
- 听op-ed听published December 21, 2015 by ACRE Policy Analyst Jacob Bundrick.听Arkansas Democrat Gazette听and Arkansas Online.
- 听op-ed听published听November 30, 2015 by ACRE Policy Analyst Jacob Bundrick.听Arkansas Business.
- Financial Incentives for All Firms Boost the Economy听by ACRE Policy Analyst Jacob Bundrick.
Blog Posts:
Why听Financial听Incentives for Businesses Put Taxpayers at Risk听by ACRE Policy Analyst Jacob Bundrick,听posted on听The ACRE Review听September 13, 2016.
How Governments Use Financial Incentives to Try to Steer the Economy听by ACRE Policy Analyst Jacob Bundrick,听posted on听The ACRE Review听September 6, 2016.
How Tax Breaks and Subsidies Cost You and the Government Money听by ACRE Policy Analyst Jacob Bundrick,听posted on听The ACRE Review听August 30, 2016.
Why Financial Incentives Do Not Increase Economic Activity听by ACRE Policy Analyst Jacob Bundrick, posted on听The ACRE Review听August 23, 2016.
Tax Incentives and Subsides: Two Staples of Economic Development听by ACRE Policy Analyst Jacob Bundrick,听posted on听The ACRE Review听August 19, 2016.
Taxes and Spending
Academic Journal Publications:
听by ACRE Policy Analyst Jacob Bundrick
From 2002 through 2012, compared with its surrounding states Arkansas saw less growth in the real dollar value of manufacturing, a greater decline in manufacturing鈥檚 share of gross domestic product, and a faster rate of job loss in manufacturing. One reason for these outcomes is manufacturing鈥檚 slow growth in labor productivity, which is defined as growth in the dollar value of output per manufacturing employee, adjusted for inflation. This study examines the relationship between state and local taxes and labor productivity in manufacturing. It is found that total state and local tax burdens reduce output per manufacturing employee, primarily through sales and corporate income taxes. Legislators across all states should consider the distortionary effects of taxes when making tax-policy decisions because those decisions will influence not only manufacturing productivity, but also the rate of economic growth.
ACRE Working Papers:
There鈥檚 Nothing Natural about the State of Government Spending in Arkansas听by ACRE Scholar Dr. Jeremy Horpedahl and ACRE Policy Analyst Jacob Bundrick.
Despite being one of the poorest states in the nation, Arkansas has a high state government spending level, even in comparison to similar states. Arkansas has higher state spending per capita than its bordering states and other regional 鈥渃ompetitor states,鈥� specifically Alabama, Florida, Georgia, North Carolina, South Carolina, and Virginia. When federal transfers are subtracted from state government spending, Arkansas still has far higher spending than its competitor states. In 鈥淭here鈥檚 Nothing Natural about the State of Government Spending in Arkansas,鈥� Dr. Jeremy Horpedahl and Mr. Jacob Bundrick undertake a comprehensive analysis of how Arkansas got to where it is today as well as the reforms necessary to put Arkansas on a more sustainable path. Arkansas鈥檚 spending trends are very similar to those of other states, but the magnitude of Arkansas鈥檚 spending and the institutional environment that has shaped it are unique. Given Arkansas鈥檚 history of state spending growth, it would be wise to consider some limits to future increases in spending. You can read a one-page infographic of their work听here.
Radio:
- ACRE Policy Analyst Jacob Bundrick was a guest on the Paul Harrell show on September 27, 2017 talking about his new paper on Arkansas state taxes and manufacturing productivity. You can stream the听
- ACRE听Scholar Dr. Jeremy Horpedahl听and Policy Analyst Jacob Bundrick were guests on the听Paul Harrell Program听on听August 16, 2017.听They discussed their new Mercatus working paper,听鈥�There鈥檚 Nothing Natural about the State of Government Spending in Arkansas.鈥�
- ACRE听Scholar Dr. Jeremy Horpedahl听and Policy Analyst Jacob Bundrick spoke in an hour-long segment on the听听on听August 10, 2017.听They discussed state spending and their new Mercatus paper,听鈥�There鈥檚 Nothing Natural about the State of Government Spending in Arkansas.鈥�
- Policy analyst Jacob Bundrick was a guest on听Josh Waters 101.3 FM on July 6, 2017 to discuss policy issues in the state.
- ACRE Director Dr. David Mitchell, Scholar Dr. Jeremy Horpedahl, and Policy Analyst Jacob Bundrick were guests on听听on May 1, 2017 where they discussed Arkansas tax reform and other state issues.
- On December 28, 2016, ACRE policy analyst Jacob Bundrick and ACRE Scholar Jeremy Horpedahl were on听听discussing tax reform in Arkansas.
Op-eds/Commentary:
- Taxes Take Their Toll on Arkansas Manufacturing听op-ed听published May 28, 2015 by ACRE Policy Analyst Jacob Bundrick.听The Jonesboro Sun.
- 听commentary published听May 25, 2015听by ACRE Policy Analyst Jacob Bundrick.听Arkansas Business.
Blog:
Taxes Take their Toll on Arkansas Manufacturing听by ACRE Policy Analyst Jacob Bundrick,听posted on听The ACRE Review听July 10, 2015.