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The Texas Comptroller of Public Accounts started issuing biennially reports on limitation economic development projects in 2008. [ 40 ] In 2017, University of Texas political science professor Nathan M. Jensen released a study on the Chapter 313 program suggesting that 85 percent of the companies receiving the abatement would have located in ...
For example, if a $5,000,000 annual tax increment is expected in a development, which would cover the financing costs of a $50,000,000 bond, only a $25,000,000 bond would be typically allowed. If the project is moderately successful, this would mean that a good portion of the expected annual tax revenues (in this case over $2,000,000) would be ...
A community development corporation (CDC) is a not-for-profit organization incorporated to provide programs, offer services and engage in other activities that promote and support community development. CDCs usually serve a geographic location such as a neighborhood or a town. They often focus on serving lower-income residents or struggling ...
The Texas Enterprise Fund is a business incentive fund that was created by legislation in 2003. The fund, which had an initial $295 million investment, is used for ensuring the growth of business in Texas. One of Texas’ most competitive recruitment tools, these funds are used primarily to attract new business to the state or assist with the ...
Main Street America's local Main Street programs aim to revitalize downtowns and commercial districts through preservation-based economic development and community revitalization. The "Main Street Project" [ 1 ] was begun in 1977 by the National Trust for Historic Preservation with a pilot involving 3 towns: Galesburg, Illinois ; Madison ...
Economic development has existed even at a basic level since the earliest recorded communities. However, in the US and several other countries, the concept of community economic development emerged "in response to tenacious poverty and the need for affordable housing, good jobs, affordable health care and quality of life matters needed for human existence."
An economic development incentive is known as "cash or near-cash assistance provided on a discretionary basis to attract or retain business operations." [1] These benefits principally encompass tax and economic incentives provided by federal, state, or local governmental bodies.
The creative class is the posit of American urban studies theorist Richard Florida for an ostensible socioeconomic class.Florida, a professor and head of the Martin Prosperity Institute at the Rotman School of Management at the University of Toronto, [1] maintains that the creative class is a key driving force for economic development of post-industrial cities in North America.