The fully revised new edition of this textbook 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 to bring 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 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.
Part I. Introduction 1. Local Economic Development and Its Finance: An Introduction, Stephen Malpezzi 2. Evaluation of Economic Development Finance Tools, Laura A. Reese and Gary Sands Part II. Public Finance 3. Public Finance Concepts for Economic Development, Randall Crane 4. Revolving Loan Funds, Kelly Robinson 5. Using Transfer of Development Rights as a Market-Based Approach in Urban Land Use Management, Matt Brinkley and Patricia L. Machemer 6. Municipal Bonds and Local Government Borrowing, Vicki Elmer 7. Publicly Subsidized Brownfields Redevelopment, Christopher A. De Sousa 8. State Financing of Innovation and Entrepreneurship, Ziona Austrian and Eli Auerbach Part III. Private Finance 9. After the Financial Crisis: The Roles and Responsibilities of Banking Institutions in Financing Community Economic Development, Robin Newberger and Michael V. Berry 10. Angles on Angels and Venture Capital: Financing Entrepreneurial Ventures, John Freear and Jeffrey E. Sohl 11. Entrepreneurship in Rural America, Henry Renski and Ryan Wallace Part IV. Partnerships 12. Tax Increment Financing in Theory and Practice, Rachel Weber 13. Development Exactions, Michael T. Peddle and Roger K. Dahlstrom 14. Financing Professional Sports Facilities, Robert A. Baade and Victor A. Matheson 15. Cobbling Together Funds for Mill Revitalization, John Mullin and Zeenat Kotval-K with Randolph Lyles Part V. Lessons Learned 16. Perspectives on Economic Development Financing, Sammis B. White