Financing Economic Development in the 21st Century

by White; Sammis

• ISBN13: 9780765627834
• ISBN10: 0765627833
• Edition: 2nd
• Format: Nonspecific Binding
• Copyright: 2012-08-07
• Publisher: Routledge

Summary

Completely revised, this new edition presents a well-balanced set of economic development financing tools and techniques focused on our current times of economic austerity. While traditional public sector techniques are evaluated and refocused, this volume emphasizes the role of the private sector and the increasing need for cobbling together different techniques and sources to create a workable financial development package. The chapters address critical assessments of various methods as well as practical advice on how to implement these various techniques. New chapters on entrepreneurship, the changing nature of the community banking system, and the increasing need for partnerships provides critical insights into the ever-evolving practice of economic development finance. Key features: --Provides a comprehensive view of financing methods: public, private, and a combination of both sectors. --Includes an up-to-date evaluation of traditional and new financing techniques, and the limitations and opportunities of each. --Addresses current economic issues, including a chapter on banking reform. --Includes completely revised sections on private and entrepreneurial finance as well as public finance.

Author Biography

Sammis B. White is associate dean of the School of Continuing Education, a professor of urban planning, and director of the Center for Workforce Development at the University of Wisconsin-Milwaukee. He has written over 150 articles and reports, and co-authored or co-edited five books. White co-founded, and for ten years co-edited, the leading economic development journal, Economic Development Quarterly. Zenia Z. Kotval is a professor of urban and regional planning in the School of Planning Design and Construction at Michigan State University. Her teaching and research expertise is in economic development planning, community development practice, and development of underutilized areas. Kotvai has published her research in leading international journals and has contributed chapters to several books.

Table of Contents

Foreword, Edward (Ned) Hill	p. vii
Preface	p. xiii
Introduction
Local Economic Development and Its Finance: An Introduction	p. 3
Evaluation of Economic Development Finance Tools	p. 31
Public Finance
Public Finance Concepts for Economic Development	p. 57
Revolving Loan Funds	p. 86
Using Transfer of Development Rights as a Market-Based Approach in Urban Land Use Management	p. 106
Municipal Bonds and Local Government Borrowing	p. 124
Publicly Subsidized Brownfields Redevelopment	p. 150
State Financing of Innovation and Entrepreneurship	p. 168
Private Finance
After the Financial Crisis: The Roles and Responsibilities of Banking Institutions in Financing Community Economic Development	p. 197
Angles on Angels and Venture Capital: Financing Entrepreneurial Ventures	p. 224
Entrepreneurship in Rural America	p. 245
Partnerships
Tax Increment Financing in Theory and Practice	p. 283
Development Exactions	p. 302
Financing Professional Sports Facilities	p. 323
Cobbling Together Funds for Mill Revitalization	p. 343
Lessons Learned
Perspectives on Economic Development Financing	p. 361
Index	p. 383
About the Editors and Contributors	p. 401
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