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Effects of business improvement districts on firm performance, property values and urban safety: an empirical study of five small to medium-sized Swedish towns

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  • Sven-Olov Daunfeldt
  • Oana Mihaescu
  • Niklas Rudholm

Abstract

Business improvement districts (BIDs) have emerged as possible solutions for the revitalisation of declining urban areas. We investigate the effects of a voluntary Swedish BID programme on firm performance, urban safety and property values in five small to medium-sized Swedish towns, and find that it increased labour productivity for incumbent firms within the BID by about 7%, mainly through an increase in revenues. However, the positive effect of the BID programme on firm performance is transitory, decreasing sharply during the third year after implementation and then becoming insignificant. As for urban safety and property values, the results are mostly insignificant.

Suggested Citation

  • Sven-Olov Daunfeldt & Oana Mihaescu & Niklas Rudholm, 2024. "Effects of business improvement districts on firm performance, property values and urban safety: an empirical study of five small to medium-sized Swedish towns," Regional Studies, Taylor & Francis Journals, vol. 58(3), pages 552-564, March.
    • Handle: RePEc:taf:regstd:v:58:y:2024:i:3:p:552-564
    DOI: 10.1080/00343404.2023.2228353
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