MSU Billings presents findings on Tax Increment Finance District study
January 5, 2011
Chuck Tooley, Urban Institute, 896-5864
Scott Rickard, Center for Applied Economic Research, 657-1763
Dan Carter, University Relations, 657-2269
MSU BILLINGS NEWS SERVICES — Representatives from Montana State University Billings will present the results of a study focused on understanding the local effects of Tax Increment Finance Districts (TIFD) at a public meeting next week.
The meeting will be held on Monday, Jan. 31, at 5:30 p.m. at MSU Billings Downtown, 2804 3rd Ave. N. The presentation will offer a brief explanation of Tax Increment Financing, a review of TIFDs in Yellowstone County and the results of the analysis.
Scott Rickard, director of the MSU Billings Center for Applied Economic Research, collaborated with the university’s Urban Institute on the collection of data and analysis to complete the study. The goal of the project was to answer two questions: 1) How much economic growth is a result of Tax Increment Financing; and 2) are the areas outside of TIFDs paying more because of it?
The study was commissioned by Big Sky Economic Development and funded by the City of Billings, Yellowstone County, the Billings Chamber of Commerce/Convention and Visitors Bureau, the City of Laurel, the Big Sky EDA/EDC, Billings Industrial Revitalization District property owners, Billings Association of Realtors, the Montana Association of Realtors, the Montana Association of Planners and the Montana League of Cities and Towns.
In addition to a survey process open to the public, a public meeting was held last November to involve the public and included solicitation of information from Billings businesses, citizens, neighborhood task forces, and others.
Monday’s study overview and presentation is open to the public. For more information, contact Chuck Tooley, Director of the MSU Billings Urban Institute, at 896-5864 or by e-mail at firstname.lastname@example.org