Last week I suggested that cities and suburbs often need to focus on economic development and growth in order to expand their tax base and revenue, partly because they are so dependent on property and sales taxes, and especially property taxes. However, attracting businesses and promoting growth can be difficult, and growth does not always deliver on the promises made by its advocates. In fact, it can sometimes entail financial costs and potentially hurt the “quality of life” in cities.
I’m curious what people think about growth and economic development for cities. What are some of the pros and cons of economic growth? How should cities try to judge when attracting businesses and promoting growth is beneficial? You might think about the Native American casinos (Foxwoods and the Mohegan Sun) and the impacts they have had on local towns and the economy of the region. What have some of the pros and cons been, and is this “good” economic development?
Triumph of the City Edition: N/A