Study takes dim view of economic development tool commonly used...

A new study published by the Lincoln Institute of Land Policy probes the pitfalls of “tax increment financing” districts — bank loans and other financial incentives that developers pay back with funds that would have otherwise gone toward property taxes.

The 72-page report, “Improving Tax Increment Financing (TIF) for Economic Development,” by University of Illinois at Chicago professor David Merriman, reviewed more than 30 studies of TIF across the country over several decades. It found that “in most cases, TIF has not accomplished the goal of promoting economic development.”...

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Ken Notes: I believe TIF has been used very effectively by many communities while others have found problems. Wisconsin needs to rewrite TIF laws to more closely align with how the program is used most successfully. I strongly advocate for a development agreement being required for any business receiving incentives.

Wisconsin reporters need to read the report, read it the interview their local leaders and write their own stories. The Report is free.

Finally the report should be required reading for every elected official in the state!!!

- - Volume: 6 - WEEK: 37 Date: 9/13/2018 8:51:29 AM -