What is ‘Economic Blight’
The visible and physical decline of a property, neighborhood or city due to a combination of economic downturns, residents and businesses leaving the area, and the cost of maintaining the quality of older structures. These factors tend to feed on themselves, with each one contributing to an increase in the occurrence of the others.
Explaining ‘Economic Blight’
Although many larger cities and rural manufacturing communities struggle with economic blight, the rapid rise of premium real estate prices over the last few decades led to renewed interest in these areas. Individual investors, as well as large developers, joined forces to successfully renovate and revitalize many areas struggling with economic blight, making a handsome profit along the way.
Further Reading
- The effects of tax increment financing on economic development – www.sciencedirect.com [PDF]
- Tax Increment Financing in Chicago: The Perplexing Relationship Between Blight, Race, and Property Values – journals.sagepub.com [PDF]
- Regional economic impacts of Fusarium head blight in wheat and barley – academic.oup.com [PDF]
- The death and life of Tax Increment Financing (TIF) – www.emerald.com [PDF]
- Tax Increment Financing and Economic Development: Uses, Structures, and Impact – www.jstor.org [PDF]
- Economic impacts of Fusarium head blight in wheat and barley: 1993-2001 – ageconsearch.umn.edu [PDF]
- If you promise to build it, will they come? The interaction between local economic development policy and the real estate market: Evidence from tax increment finance … – onlinelibrary.wiley.com [PDF]
- … Share Tech/The 'Sharing Economy'? Precarious Labor in Neoliberal Cities/Where Is Economic Development in the Platform City?/Shared Economy: WeWork or We … – www.tandfonline.com [PDF]
- Economic impacts of Fusarium head blight in wheat and barley: 1998-2000 – ageconsearch.umn.edu [PDF]
