An evaluation of Churchill Downs’ tax increment financing district

Thomas Lambert

Journal of Urban Regeneration and Renewal, 2022, vol. 15, issue 4, 354-359

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.

Keywords: Churchill Downs; economic development; horse racing; sports; tax increment financing districts (TIFs) (search for similar items in EconPapers)
JEL-codes: R00 Z33 (search for similar items in EconPapers)
Date: 2022
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Working Paper: An Evaluation of Churchill Downs’ Tax Increment Financing District (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jurr00:y:2022:v:15:i:4:p:354-359

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