The President has warned America's mayors not to waste their stimulus packages. "Waste" is a subjective term in politics, but I usually interpret it to mean "expending more resources than necessary to achieve the desired result", "expending resources while failing to to achieve the desired result", or "my second year in college".
Here's the problem. These mayors are beholden to their respective constituents and nobody else. I suspect that these mayors will compete with each other to attract industries and professionals to their cities. Some mayors will win and some will lose.
I propose that cities and states should not be allowed to use public funds to steal jobs from each other. This is the sort of thing that the much abused interstate commerce clause in the Constitution was meant to address. If we really are all in this together, then there is no need for an economic zero-sum game.