Why Dont Enterprise Zones Work Estimates of the Extent that EZ Benefits are Capitalized into Property Values Reportar como inadecuado




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The study examines the impact of local Enterprise Zones (EZs) on commercial and industrialproperty values. Currently, 43 states have established EZ programs to target developmentincentives to economically distressed areas. While there is a substantial body of literatureanalyzing the effectiveness of EZ programs, the research has yielded varied findings. Thevaried results of EZ programs could potentially arise as EZ property values are bid up by businessesseeking to expand or locate operations in the EZs. This would reduce amounts thatthese businesses would otherwise spend on capital assets or labor. A hedonic price model isestimated to determine the effect of EZ status and nearby EZ activity on property values. Theempirical results imply that EZ status may, in some instances, have a positive impact on EZproperty values. However, the empirical results also suggest that these potential price effectsmay diminish as EZs are designated in other nearby locations.

Subject(s): Community/Rural/Urban Development

Land Economics/Use

Issue Date: 2006

Publication Type: Journal Article

PURL Identifier: http://purl.umn.edu/132311 Published in: Journal of Regional Analysis and Policy, Volume 36, Issue 1

Total Pages: 16

Record appears in: Mid-Continent Regional Science Association > Journal of Regional Analysis and Policy





Autor: Landers, Jim

Fuente: http://ageconsearch.umn.edu/record/132311?ln=en







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