Premium
Designing Economic Development Incentives: The Case of Industrial Development Bonds in Chicago: 1977–1987
Author(s) -
Giloth Robert
Publication year - 1991
Publication title -
review of policy research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.832
H-Index - 45
eISSN - 1541-1338
pISSN - 1541-132X
DOI - 10.1111/j.1541-1338.1991.tb00104.x
Subject(s) - incentive , bond , business , industrial policy , economic growth , economics , regional science , economic geography , finance , market economy , international trade , sociology
This article explores how the overall policy system affects the operation of economic development programs by presenting a case study of the City of Chicago's Industrial Development Bond (IDB) program between 1977–1987. By comparing Chicago IDB recipients with a representative group of Chicago manufacturers, this case study reveals that IDBs went to a self‐selected group of manufacturers of larger size, that were already growing, but belonged to declining manufacturing sectors. Overall, despite bold promises, IDB recipients created few new jobs.