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Attracting private investment to contaminated properties: The value of public interventions

  • Kris Wernstedt

    (Resources for the Future, Washington, DC)

  • Peter B. Meyer
  • Anna Alberini

    (University of Maryland-College Park)

We employ a mail survey of private developers that uses conjoint choice experiments and Likert-scaled attitudinal questions to examine preferences for policy instruments and incentives intended to encourage brownfield cleanup and redevelopment. Our analysis suggests that developers judge public hearing requirements at brownfield redevelopments unattractive, but that they place a relatively high value on liability relief-from both cleanup costs and claims by third parties. Reimbursement of environmental assessment costs is not particularly attractive. We also find considerable heterogeneity among developers in the value they place on these incentives, depending on their experience with contaminated sites. © 2006 by the Association for Public Policy Analysis and Management

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Article provided by John Wiley & Sons, Ltd. in its journal Journal of Policy Analysis and Management.

Volume (Year): 25 (2006)
Issue (Month): 2 ()
Pages: 247-369

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Handle: RePEc:wly:jpamgt:v:25:y:2006:i:2:p:247-369
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  8. Newman, Robert J. & Sullivan, Dennis H., 1988. "Econometric analysis of business tax impacts on industrial location: What do we know, and how do we know it?," Journal of Urban Economics, Elsevier, vol. 23(2), pages 215-234, March.
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  10. Moretti, Enrico, 2004. "Bidding for Industrial Plants: Does Winning a 'Million Dollar Plant' Increase Welfare?," Santa Cruz Department of Economics, Working Paper Series qt5cz0h23t, Department of Economics, UC Santa Cruz.
  11. Christopher A De Sousa, 2002. "Measuring the public costs and benefits of brownfield versus greenfield development in the Greater Toronto area," Environment and Planning B: Planning and Design, Pion Ltd, London, vol. 29(2), pages 251-280, March.
  12. Kris Wernstedt, 2004. "Overview of Existing Studies on Community Impacts of Land Reuse," NCEE Working Paper Series 200406, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised Jun 2004.
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