Financing Economic Development in the 21st Century

Financing Economic Development in the 21st Century

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The field of economic development grew dramatically during the 1990s, from experimental attempts to attract employers to a sophisticated set of tools regularly used by state and local governments and local chambers of commerce. This completely new version of the classic Financing Economic Development defines the state of the art for the 21st century. With contributions by highly qualified professionals and scholars, the book offers a balanced and comprehensive survey of the major mechanisms for financing economic development today. It explores the details of all the standard developmental tools, such as Tax Incremental Finance districts, angel and venture capital, and tax abatements, as well as newer tools that have proven effective, including micro-enterprise lending, stadium financing, brownfield financing, and revolving loan funds. Tools for rural development finance are also covered, and in addition to describing the various programs and providing examples of how they work, the book also evaluates their relative effectiveness.
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Product details

  • Hardback | 368 pages
  • 159 x 238.25 x 29.46mm | 684.92g
  • London, United Kingdom
  • English
  • tables, figures, bibliography, references, index
  • 0765608308
  • 9780765608307

Table of contents

Part 1. Introduction: 1. Local Economic Development and Its Finance: An Introduction, Stephen Malpezzi; 2. What Public Finance Do State Constitutions Allow? Ferdinand P. Schoettle; Part 2. The Developer Pays: 3. Tax Incremental Financing in Theory and Practice, Rachel Weber; 4. Adding a Stick to the Carrot: Location Incentives with Clawbacks, Larry Ledebur and Douglas Woodward; 5. Development Exactions, Michael T. Peddle and Roger K. Dahlstrom; Part 3. Public Financing: 6. Enterprise Zone Incentives: How Effective Are They? Alan Peters and Peter Fisher; 7. The Efficacy of Local Economic Development Incentives, Rod Hissong; 8. Incentives and Economic Development: The Case of BMW in South Carolina, Donald Schunk and Douglas Woodward; 9. Revolving Loan Funds, Kelly Robinson; 10. Financing Neighborhood Businesses: Collaborative Strategies, Beverly McLean and James Bates; Part 4. Special Situations: 11. Urban Tourism and Financing Professional Sports Facilities, Ziona Austrian and Mark S. Rosentraub; 12. Financing Redevelopment of Brownfields, Peter B. Meyer and Kristen R. Yount; 13. Financing Public Investment in Retail Development, William M. Bowen, Kimberly Winson, and Robert Simons; 14. Rural Economic Development, John Magill; Part 5. Private Finance: 15. Use of Bank Credit to Finance Small Businesses, Timothy Bates; 16. Business Angels, Adam Bock; 17. Venture Capital, David E. Arnstein
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