New Report Shows Brownfield Redevelopment In Cities Leads To More Jobs, Increased Tax Revenue

Posted by Thao Nelson - On November 15, 2010 (EST)

The U.S. Conference of Mayors released a major report on brownfields. This new report estimates the progress 99 cities have made over the past 17 years as it relates to the number of brownfields that have been redeveloped, acres of land reclaimed, new jobs that were created, and additional revenues that have been generated. The Conference of Mayors brought the issue of brownfields to the attention of Congress and the Administration back in 1993 and worked hand in hand with the Federal Government to establish a national brownfields program. According to the study, fifty–four cities reported 161,880 new jobs created through the redevelopment of 2,118 sites with 64,730 jobs in the pre-development / remediation stage and 97,150 permanent jobs. Further, fifty cities said that since 1993, $309 million in additional local tax revenue was generated from 654 redeveloped brownfield sites. Significantly, 58 cities estimated if their brownfields were redeveloped, potential revenue could range from $872 million to $1.3 billion annually.



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Modified On : November 15, 2010
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