Economic Improvement Creating Demand for Business Park Expansion
Thanks to the economy’s continued improvement, Wisconsin municipalities are experiencing renewed demand for available sites in their business parks. For years, business expansion strategies focused on filling low-cost vacancies in existing buildings. However, a surge in new construction in the manufacturing, distribution, health care and technology sectors has created the need for additional sites.
While this is certainly good news, competition continues to put pressure on delivering attractive development packages. In a survey conducted by Vierbicher of 80 Wisconsin communities, tax incremental financing and development incentives were ranked as the top two most effective tools available to promote development. The survey also found that 91 percent of the communities with an active economic development program were using tax incremental financing.
The tax incremental financing program continues to be a very important financing tool used by municipalities to promote economic development. In addition, numerous intergovernmental grants are available to help fund infrastructure improvements.
Click to view the Vierbicher Bulletin Business & Industrial Park Public Funding Opportunities
, which summarizes the 2017 funding opportunities available for business and industrial park development.
For additional information on public funding programs, contact:
Kurt R. Muchow
Community Development Consultant