Therese J. McGuire is Professor of Strategy at the Kellogg School of Management at Northwestern University. McGuire's areas of expertise are state and local public finance, fiscal decentralization, property tax limitations, education finance, and regional economic development. She has written about and worked with various governments on state tax reform and on the impact of taxes on economic growth. In 1989 McGuire worked with a blue-ribbon commission and directed a study of revenues and expenditures for the State of Arizona. McGuire was President of the National Tax Association in 1999-2000, as well as the editor of the NTA's academic journal, the National Tax Journal from 2001 until 2009. Her publications have appeared in the National Tax Journal, the Journal of Regional Science, the Journal of Urban Economics, International Tax and Public Finance, and the Journal of Public Economics. McGuire has a B.A. with a dual major in Mathematics and Economics from the University of Nebraska-Lincoln and a Ph.D. in Economics from Princeton University.
Areas of Expertise
Education PhD, 1983, Economics, Princeton University
BA, 1978, Economics, Mathematics, University of Nebraska-Lincoln, Phi Beta Kappa
Academic Positions Director, Kellogg School of Management, Northwestern University-present
Professor, Kellogg School of Management, Northwestern University-present
Department Chair, Kellogg School of Management, Northwestern University-present
Faculty Fellow, Institute for Policy Research, Northwestern University-present
Honors and Awards Alumni-Master Award, College of Arts and Sciences, University of Nebraska-Lincoln, 2010
President, National Tax Association, 99-00
Alumni Achievement Award, Wisner-Pilger High School, 89-89
Editorial Positions Member Editorial Board, Nordic Tax Journal, 2016
Member Editorial Advisory Board, National Tax Journal, 2009
Editor, National Tax Journal, 2001-2009
Education Academic Positions Honors and Awards Editorial Positions
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Garcia-Mila, Teresa and Therese J. McGuire. 2002. Tax Incentives and the City. Brookings-Wharton Papers on Urban Affairs.
It is difficult to justify tax incentives within the existing economics literature on tax competition. We develop a model in which communities are interested in attracting firms not only for their own capital but also for the "concentration externalities," a form of agglomeration economies, their location bestows on existing firms. We find that it is efficient in this case for communities to offer tax incentives, defined as a tax rate below the benefit tax level, to firms. We present the recent relocation of the Boeing Corporation's headquarters from Seattle to Chicago as a case study.