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An Evaluation of Churchill Downs’ Tax Increment Financing District

Author

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  • Lambert, Thomas
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 neighborhoods which are deemed to need revitalization. Within the last 10 years, the concept has become popular in Canada, and it has been used as a component piece of enterprise zone programs in other nations. This paper evaluates one of the first Kentucky USA TIFs started around 20 years ago with a preeminent Kentucky horse racing track, Churchill Downs, as the target for investment spending. Some of the desired spinoff effects of such investment are to help bring jobs, investment, and general economic growth to an older and low-income neighborhood which surrounds the track. This paper finds mixed results regarding these outcomes for the area surrounding Churchill Downs.

Suggested Citation

  • Lambert, Thomas, 2022. "An Evaluation of Churchill Downs’ Tax Increment Financing District," MPRA Paper 112950, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:112950
    as

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    File URL: https://mpra.ub.uni-muenchen.de/112950/1/MPRA_paper_112950.pdf
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    References listed on IDEAS

    as
    1. Thomas E. Lambert & Paul A. Coomes, 2001. "An Evaluation of the Effectiveness of Louisville’s Enterprise Zone," Economic Development Quarterly, , vol. 15(2), pages 168-180, May.
    2. Thomas E. Lambert, 2020. "Short-Term Versus Long-Term Effects of the Louisville Enterprise Zone Incentives: A Response to Sumei Zhang," Economic Development Quarterly, , vol. 34(3), pages 294-298, August.
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    More about this item

    Keywords

    Churchill Downs; Economic Development; Horse Racing; Sports; Tax Increment Financing Districts (TIFs);
    All these keywords.

    JEL classification:

    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R38 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Government Policy
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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