If You Build It, Will They Come?: Fiscal Federalism, Local Provision of Public Tourist Amenities, and the Vision Iowa Fund

Deepak Premkumar, Austin Quackenbush, Georgeanne Artz and Peter Orazem

ISU General Staff Papers from Iowa State University, Department of Economics

Abstract: Iowa provided partial state funding to communities to build tourist attractions, a potential solution to local under-provision of public goods. A 10 percent increase in state funds increased county taxable retail sales by 0.1 percent. The State’s return from resulting sales tax revenue averaged 11.8 percent. Local communities paid more and received less tax, and so their return was much smaller at 1.2 percent. Neighboring community sales also increased. The positive spillovers to neighbors and the state suggest that local communities will undersupply public amenities without state subsidies.

Date: 2013-01-01
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Related works:
Journal Article: If You Build it, Will They Come?: Fiscal Federalism, Local Provision of Public Tourist Amenities, and the Vision Iowa Fund (2013)
Working Paper: If You Build It, Will They Come?: Fiscal Federalism, Local Provision of Public Tourist Amenities, and the Vision Iowa Fund (2011)
Working Paper: If you build it, will they come?: fiscal federalism, local provision of public tourist amenities, and the Vision Iowa fund (2011)
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