Verb, apparently. American version of the much simpler root word "incent".
Why they can't seem to cope with this much simpler word, I don't know.. obviously doesn't sound important enough.
From dictionary.com (yes, that's right, it's listed - to make matters worse, their definition of "incent" says, "to incentivize"):
"This bill will help incentivize everybody to solve that part of the problem” (Richard A. Gephardt)."
How absurd is that. Gah.
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