A TIF may not spur the anticipated retail growth
October 29th, 2006
- “Everybody thinks that Starbucks and The Gap want to come to your town, but that’s not true.” Gammonly (the developer) said. See the full Chicago Tribune article.
- “Economic Development is a cliché among city officials. It refers to the belief that tax subsidies to selected private businesses can stimulate the local economy.” “If new developments are justified by market demand, they will be built anyway. If not, they will fail, regardless of the subsidies.” See the full Des Plaines Residents for Responsible Taxation flyer.
- “Our analysis of 235 municipalities in the metropolitan Chicago region finds cities, towns, and villages that had TIF districts actually grew more slowly than municipalities that did not use TIF.” You can read the full article here.
