The financialisation of urban development: Tax Increment Financing in Newcastle upon Tyne

Local Economy

Volumn 28, Issue 4, 2013, Pages 384-398

  Strickland, Tom ^a  

^a NEWCASTLE UNIVERSITY   (United Kingdom)

Author keywords

financialisation; geographies of risk; Tax Increment Financing; uneven development

Indexed keywords

EID: 84876997946     PISSN: 02690942     EISSN: 14709325     Source Type: Journal    
DOI: 10.1177/0269094213475857     Document Type: Article

References (44)

1. Baldassare MWhen Government Fails: The Orange County Bankruptcy. Los Angeles, CA: California University Press; 1998:.
2. BIS (Department for Business Innovation and Skills) (2012) Regional Economic Performance Indicators. 21 September 2012. Available at: http://www.bis.gov.uk/analysis/statistics/sub-national-statistics/regional-economic-performance-indicators (accessed 30 October 2012).
3. Briffault R.The most popular tool: Tax Increment Financing and the political economy of local government.University of Chicago Law Review. 2010;77 (1): 65-95.
4. Byrne PF.Determinants of property value growth for Tax Increment Financing districts.Economic Development Quarterly. 2006;20 (4): 317-329.
5. Clark GL,Dixon AD,Monk AHBManaging Financial Risks: From Global to Local. Clark GLDixon ADMonk AHB, ed. Oxford: Oxford University Press; 2009:1-26.
6. Core Cities Group and Pricewaterhouse Coopers (2008) Unlocking City Growth Interim Findings on New Funding Mechanisms. Available at: http://www.corecities.com/what-we-do/publications/unlocking-city-growth-interim-findings-new-funding-mechanisms-full-report (accessed 23 April 2011).
7. Dawley S,Marshall JN,Pike A, et alThe Labour Market Impact of the Run on Northern Rock: Continuity and Evolution in an old Industrial Region. Papers in Evolutionary Economic Geography 1109. Utrecht, Netherlands: Utrecht University; 2011:.
8. DCLG (Department for Communities and Local Government) (2009) Floorspace and Rateable Value of Commercial and Industrial Properties 1 April 2008, (England & Wales). Planning Statistical Release, 19 March 2009. Available at: http://www.communities.gov.wzm 120uk/documents/statistics/pdf/1179067.pdf (accessed 30 October 2012).
9. Local Government Resource Review: Proposals for Business Rates Retention. London: Crown; 2011:.
10. Public Works Loan Board Report and Accounts 2011-2012. London: The Stationery Office; 2012:.
11. Devitt C (2012) Insurer threatens suit over looming TIF bond default. BondBuyer.com, 10 September. Available at: http://www.bondbuyer.com/issues/121_175/troy-downtown-development-authority-set-to-default-november-2013-1043787-1.html (accessed 30 October 2012).
12. Dickerson AM.Over-indebtedness, the subprime mortgage crisis, and the effect on US cities.Fordham Urban Law Journal. 2009;36 (3): 395-425.
13. Harvey D.From managerialism to entrepreneurialism: The transformation in urban governance in late capitalism.Geografiska Annaler. Series B, Human Geography. 1989;71 (1): 3-17.
14. Business Rate Supplements Act 2009. London: HMSO; 2009:.
15. Localism Act 2011. Norwich: TSO; 2011a:.
16. Unlocking Growth in Cities. London: HM Government; 2011b:.
17. Jones G,Stewart J.Local government: The past, the present and the future.Public Policy and Administration. 2012;27 (4): 346-367.
18. Kirkpatrick LO,Smith MP.The infrastructural limits to growth: Rethinking the urban growth machine in times of fiscal crisis.International Journal of Urban and Regional Research. 2011;35 (3): 477-503.
19. Lefcoe G (2011) Competing for the Next Hundred Million Americans: The Uses and Abuses of Tax Increment Financing. University of Southern California Law School, Law and Economics Working Paper Series, Paper 120. Available at: http://law.bepress.com/usclwps-lewps/art120/ (accessed 24 January 2013).
20. Leyshon A.The limits to capital and geographies of money.Antipode. 2004;36 (3): 461-469.
21. MacKinnon D.Managerialism, governmentality and the state: A neo-Foucauldian approach to local economic governance.Political Geography. 2000;19 (3): 293-314.
22. Martin R.The local geographies of the financial crisis: From the housing bubble to economic recession and beyond.Journal of Economic Geography. 2011;11 (4): 587-618.
23. Martin R.Regional economic resilience, hysteresis and recessionary shocks.Journal of Economic Geography. 2012;12 (1): 1-32.
24. Mason S,Thomas KP.Tax Increment Financing in Missouri: An analysis of determinants, competitive dynamics, equity, and path dependency.Economic Development Quarterly. 2010;24 (2): 169-179.
25. Newcastle City Council (2011) Newcastle - a Working City: A Consultation on How We Can Best Create Growth and Opportunity in Tough Times. December 2011. Newcastle upon Tyne: Newcastle City Council.
26. Newcastle City Council and North East LEP (2012) Newcastle City Deal. July 2012. Available at: http://www.newcastle.gov.uk/sites/drupalncc.newcastle.gov.uk/files/wwwfileroot/your-council/communications_and_marketing/newcastle_city_deal.pdf (accessed 12 October 2012).
27. NewcastleGateshead (2011) Urban Core Accelerated Development Zone: Proposal, October 2011. Newcastle upon Tyne: Newcastle City Council, Gateshead Council and PriceWaterhouseCoopers.
28. Nottingham City Council (2012) Connected, Creative, Competitive Nottingham. The Nottingham City Deal. Available at: http://www.nottinghamcity.gov.uk/static/nottinghamgrowthplan/files/120719%20Nottingham%20City%20Deal%20_final_pdf (accessed 12 October 2012).
29. Office for National Statistics (2012) Regional Profiles - Economy - North East. May 2012. Available at: http://www.ons.gov.uk/ons/dcp171780_266082.pdf (accessed 21 October 2012).
30. O'Neill PM.Infrastructure financing and operation in the contemporary city.Geographical Research. 2010;48 (1): 3-12.
31. O'Toole R.Crony capitalism and social engineering: The case against Tax-Increment Financing.Policy Analysis. 2011;676:1-16.
32. Pike A.'Shareholder value' versus the regions: The closure of the Vaux Brewery in Sunderland.Journal of Economic Geography. 2006;6 (2): 201-222.
33. Pike AJ,Pollard JS.Economic geographies of financialization.Economic Geography. 2010;86 (1): 29-51.
34. Randalls SManaging Financial Risks: From Global to Local. Clark GLDixon ADMonk AHB, ed. Oxford: Oxford University Press; 2009:209-229.
35. Sheffield City Region (2012) MADE in Sheffield: A Deal for Growth. Sheffield City Deal. Available at: http://www.sheffieldcityregion.org.uk/wp-content/uploads/2012/07/Sheffield-City-Deal-Final.pdf (accessed 12 October 2012).
36. Smith BC.The impact of tax increment finance districts on localized real estate: Evidence from Chicago's multifamily markets.Journal of Housing Economics. 2006;15 (1): 21-37.
37. Smith BC.If you promise to build it, will they come? The interaction between local economic development policy and the real estate market: Evidence from Tax Increment Finance Districts.Real Estate Economics. 2009;37 (2): 209-234.
38. Symons TCapital Futures: Local capital finance options in an age of recovery. London: NLGN; 2011:.
39. Urban Task Force (1999) Towards a Strong Urban Renaissance. Available at: http://www.urbantaskforce.org/UTF_final_report.pdf (accessed 16 February 2012).
40. Valuation Office Agency (2011) Non-domestic Rateable Values: 2005 and 2010 Local Rating Lists - England and Wales as at 31 December 2010. Available at: http://www.voa.gov.uk/corporate/statisticalReleases/nDRDecRV20052010LocalRatingListsEnglandAndWales.html (accessed 30 October 2012).
41. Valuation Office Agency (2012) Business Rates: An Introduction. Available at: http://www.voa.gov.uk/corporate/_downloads/pdf/120404BusinessRates-AnIntroduction(English).pdf (accessed 25 October 2012).
42. Weber R.Selling city futures: The financialization of urban redevelopment policy.Economic Geography. 2010;86 (3): 251-274.
43. Weinstein AC.Current and future challenges to local government posed by the housing and credit crisis.Albany Government Law Review. 2009;2:259-277.
44. Wray F,Marshall N,Pollard JA Handbook of Local and Regional Development. Pike ARodríguez-Pose ATomaney J, ed. Abingdon: Routledge; 2010:356-370.