Based on the author’s experience in his country (US), a new strategy seen to work for increasing local governments’ revenues from existing sources, such as taxes and licenses, is economic development. Local governments are hence focused on activities that would create strategies and incentives that would stimulate economic development, many of which are new and innovative and generally based on a political philosophy anchored on self-reliance. The article is a presentation of these emerging economic development incentives which may be applicable to developing countries.