Tax Increment Financing (TIF) as an urban policy for spatially targeted economic development initiatives

Tax Increment Financing

Urban policy transfer between the US and UK has long been of interest to researchers and practitioners. Given the recent wider context of reduced direct funding and the absence of a coherent regeneration policy, the introduction of Tax Increment Financing (TIF) to the UK is one approach of stimulating spatially targeted economic development initiatives. Questions are raised as to whether TIF could be successful under certain stakeholder circumstances, particularly given imbalances in the strength of negotiation in certain sector professions such as planning? It can be argued that TIF is more of a modified policy ‘idea’ rather a transfer that can ‘work’ in all circumstances. Plus, for TIF can be successful, the mechanism needs to consider flexible but local elements, as well as brokering development to suit all affected stakeholders.

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