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An evaluation of Churchill Downs’ tax increment financing district

Author

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  • E. Lambert, Thomas

    (University of Louisville, Louisville, USA)

Abstract

Tax increment financing districts (TIFs) have become important local government tools in the USA over the last several decades as ways to help bring public and/or private investment dollars into inner city areas and/or older neighbourhoods which are deemed to need revitalisation. Within the last ten years, the concept has become popular in Canada, and it has been used as a component piece of enterprise zone programmes in other nations. This paper evaluates one of the first Kentucky USA TIFs started approximately 20 years ago with a pre-eminent Kentucky horse racing track, Churchill Downs, as the target for investment spending. Some of the desired spin-off effects of such investment are to help bring jobs, investment and general economic growth to an older and low-income neighbourhood which surrounds the track. This paper finds mixed results regarding these outcomes for the area surrounding Churchill Downs.

Suggested Citation

  • E. Lambert, Thomas, 2022. "An evaluation of Churchill Downs’ tax increment financing district," Journal of Urban Regeneration and Renewal, Henry Stewart Publications, vol. 15(4), pages 354-359, June.
    • Handle: RePEc:aza:jurr00:y:2022:v:15:i:4:p:354-359
    as

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    References listed on IDEAS

    as
    1. Thomas E. Lambert & Paul A. Coomes, 2001. "An Evaluation of the Effectiveness of Louisville’s Enterprise Zone," Economic Development Quarterly, , vol. 15(2), pages 168-180, May.
    2. Thomas E. Lambert, 2020. "Short-Term Versus Long-Term Effects of the Louisville Enterprise Zone Incentives: A Response to Sumei Zhang," Economic Development Quarterly, , vol. 34(3), pages 294-298, August.
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    More about this item

    Keywords

    Churchill Downs; economic development; horse racing; sports; tax increment financing districts (TIFs);
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z33 - Other Special Topics - - Tourism Economics - - - Marketing and Finance

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