Well, that's been our strategy with these red state rust belts for decades and it doesn't work. These states receive much more in taxes than they pay. These get doled in various ways, and some ways very close to what you're proposing[2]. It didn't work. Unemployment and wages are still poor.
The larger issue here is why do you get that wonderful suburban home and I get a tiny condo and yet somehow I'm taxed extra so you can live, and lets be frank here, a wasteful and high-carbon footprint lifestyle? Urban migration, telework, and re-training are the real solutions here. Everything else is just welfare with 'make work' jobs that will evaporate the second those tax credits get cut or the company in question has a bad quarter and realizes it can just eliminate that office, that only really exists as a tax shelter, for cost savings.
Lastly, the "come to the suburbs for savings" is a staple in business. Every suburban mayor is constantly flirting with urban companies to move jobs there as he's empowered to give significant tax sweetheart deals and other incentives. In fact, this is one of the main policy platforms for suburban mayors: bring in jobs. This is a normal part of suburban political life. Its not a new idea, its the status quo. One of my previous employers moved from downtown Chicago to the suburbs exactly for this. Ultimately, you can only poach so many jobs, so its not some magical solution for suburban and rural unemployment.
[1] Because thats where the money ultimately comes from, we wont cut medicare or SS or our military in half to pay for this, we'll just raises taxes on the middle class.
[2] Tax credits for creating jobs in poor areas are common public policy on both the state and federal levels. For example and were vastly increased after the 2008 meltdown. These were so popular many corporations not only didn't pay tax but received free money from the government for it! Worse, they're easily abused eve before they create jobs (if they even do, its easy to take these credits for new offices you were planning on opening anyway):
http://www.thefiscaltimes.com/Articles/2014/08/11/1B-Tax-Cre...