Munich Personal RePEc Archive

An Evaluation of Churchill Downs’ Tax Increment Financing District

Lambert, Thomas (2022): An Evaluation of Churchill Downs’ Tax Increment Financing District.


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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.

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