This article examines the evolution of global incentives aimed at attracting investments, highlighting two approaches for changing the current dynamic. While the article primarily addresses avoiding a ‘race to the bottom’ through incentives, jurisdictions must concurrently prioritize enablers of long-term competitiveness, from doing business within specific jurisdictions to the accessibility of raw materials and production components at competitive prices, the availability of qualified talent, preferential access to export markets through free-trade agreements, or export logistics infrastructure. By thoughtfully balancing investment incentive programs and enablers of competitiveness, jurisdictions can create exceptional environments that sustainably attract and retain investors.