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Financing Economic Development
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Financing Economic Development
An Institutional Response

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March 1990 | 320 pages | SAGE Publications, Inc
The recession and concerns over industrial competitiveness in the 1980s generated public concern with job retention and creation, leading to state and local programs designed to stimulate local economic development. As a new, rapidly growing field, local economic development literature proliferated, but has not provided a comprehensive source for the field. Several questions are of particular concern: What are the major financing mechanisms for economic development? How do they actually work? How does one evaluate their effectiveness? Financing Economic Development is a comprehensive resource which describes the major mechanisms available for financing economic development. The chapters describe financing tools or programs in some detail; provide one or more examples of how they work; classify the tool according to various approaches; and come to an evaluative conclusion about the utility and effectiveness of the mechanism for economic development. A documentation of institutional innovation by state and local government, this volume shows how governments--across the United Statesùare working with private sector financiers, thereby allowing private intermediaries to invest in new enterprises. With contributions by highly qualified practitioners and academics, this volume is appropriate for professionals as well as for upper division undergraduate and graduate students in urban studies, public administration, and policy studies. "The book provides useful information by presenting a considerable number of institutional arrangements and showing the immense variety of approaches to economic development on the state and local level. The latter aspect is particularly fascinating for readers from countries with a less fragmented government than the United States." --Journal of Evolutionary Economics "Although there have been a plethora of publications on economic development, this book is a useful addition to the body of literature on the subject. The book provides some useful examples and case studies of private-sector participation, which, of course, is the goal of most economic development programs." --Government Finance Review

 
PART ONE: INTRODUCTION
Edward W Hill and Nell Ann Shelley
An Overview of Economic Development Finance
Michael J Wolkoff
Economic Development Financing Policy
A State and Local Perspective

 
Margaret E Dewar
Tax Incentives, Public Loans and Subsidies
What Difference do they Make in Nonmetropolitan Economic Development?

 
 
PART TWO: THE PUBLIC SECTOR
Ferdinand P Schoettle
What Public Finance do State Constitutions Allow?
Matthew R Marlin and William P Buzzi
Industrial Development Bonds
What Remains?

 
James R Paetsch and Roger K Dahlstrom
Tax Increment Financing
What it is and How it Works

 
 
PART THREE: ALTERNATIVE USES OF PUBLIC FUNDS
Peter S Fisher
Connecticut's New Product Development Corporation
Michael Allan Wolf
Enterprise Zones
A Decade of Diversity

 
Michael I Lugar and Harvey A Goldstein
Research Parks as Public Investments
A Critical Assessment

 
Wim Wiewel and Jeff Weintraub
Community Development Corporations as a Tool for Economic Development Finance
J Christopher Walker
Revolving Funds for Economic Development
Philip Shapira
State Initiatives to Modernize US Small and Midsized Manufacturers
Sammis B White
Increasing Exports Through World Trade Centers
Mary Lou Eagan and Marc Bendrick Jr
Financing Exports
What is the State Role?

 
 
PART FOUR: PRIVATE FINANCE FOR DEVELOPMENT
John M Kolesar
The Use of Bank Financing for Economic Development
Sheldon B Lubar
Venture Capital
Robert J Gaston
Financing Entrepreneurs
The Anatomy of a Hidden Market

 
 
PART FIVE: PUTTING IT ALL TOGETHER
Terry F Buss, Arnold Clebone, Pamela Stanley and Peter Mitchell
Putting it all Together
Financing Sovereign Circuits

 

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