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Shopping Centers A Drain On City Budgets?

Posted by: Chris Steins
Thanks to: Stacy Mitchell
6 October 2004 - 11:00am

Shopping centers are a drain on city budgets in Ohio, according to a new report, which found that retail development costs more in public services than it generates in tax revenue.

A new report, Understanding the Impacts of Fiscal Land Use In Ohio (PDF, 2MB), prepared for the Mid-Ohio Regional Planning Commission concludes that retail development costs cities more in public services than it generates in revenue.

"The report, produced by Randall Gross of Development Economics in Washington, D.C., reviews and summarizes the findings of fiscal impact studies conducted in eight central Ohio communities between 1997 and 2003... In seven of the eight communities, retail development created a drain on municipal budgets."

Full Story: New Report Finds Retail Development Costs Ohio Taxpayers
Source: Home Town Advantage Bulletin, October 1, 2004
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Even if the report overestimates the costs by a factor of two and underestimates the tax-benefit by a similar amount, the conclusion would be pretty much the same: destination resorts cost local government and taxpayers money.
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