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There's a very good reason that governments aren't supposed to compete with private-enterprise companies. Governments have monopolies on certain things, like eminent domain and deadly force.
It should go without saying that even the most narrowly construed eminent-domain power would violate individual rights. Either a person owns his legitimately acquired property or he does not.
While I believe our Constitution allows for State and local governments to execute the power of eminent domain for those purposes that specifically serve the public good, condemning property solely to implement economic development plans is not serving the public good.
I didn't say wonderful, I say eminent domain is something you need Chris. Eminent domain - if I build a highway - go ahead. I know exactly what you're saying. But if I build a highway, and if something's in the way of the highway, you're going to have to do something with that.