Financing Economic Development in the 21st Century

by White, Sammis B.; Bingham, Richard D.; Hill, Edward W.

• ISBN13: 9780765608314
• ISBN10: 0765608316
• Format: Paperback
• Copyright: 2003-02-01
• Publisher: M E Sharpe Inc

Summary

The field of economic development grew dramatically in the 1990s, from an ad hoc endeavor to a sophisticated undertaking that is practiced by state and local governments and local chambers of commerce. What once had been experimental attempts to attract employers has now evolved into a standard, always-expanding set of tools that many communities apply. The editors of Financing Economic Development in the 21st Century have assembled a book that defines the state of the art for this new era. This book is a comprehensive resource that describes both traditional and alternative mechanisms available for financing economic development. Chapters describe financing tools or programs in detail, provide examples of how they work, and evaluate the utility and effectiveness of the technique for economic development. Each chapter also includes a complete bibliography for further exploration.

Table of Contents

List of Tables and Figures

Overview

Introduction

Local Economic Development and Its Finance: An Introduction

What Public Finance Do State Constitutions Allow?

The Developer Pays

Tax Incremental Financing in Theory and Practice

Adding a Stick to the Carrot: Location Incentives with Clawbacks, Recisions, and Recalibrations

Development Exactions

Public Financing

Enterprise Zone Incentives: How Effective Are They?

The Efficacy of Local Economic Development Incentives

Incentives and Economic Development: The Case of BMW in South Carolina

Revolving Loan Funds

Financing Neighborhood Businesses: Collaborative Strategies

Special Situations

Urban Tourism and Financing Professional Sports Facilities

Financing Redevelopment of Brownfields

Financing Public Investment in Retail Development

Rural Economic Development

Private Finance

Use of Bank Credit to Finance Small Businesses

Business Angels

Venture Capital

About the Editors and Contributors

Index

Table of Contents provided by Ingram. All Rights Reserved.