Metropolitan Policy Program Bruce Katz, Director - The Brookings Institution - Economic Benefits of Smart Growth

No Slide Title THE BROOKINGS INSTITUTION METROPOLITAN POLICY PROGRAM Metropolitan Policy Program Bruce Katz, Director The Brookings Institution University of Toronto, Munk Centre for International Studies May 12, 2005 Economic Benefits of Smart Growth THE BROOKINGS INSTITUTION METROPOLITAN POLICY PROGRAM Economic Benefits of Smart Growth The United States is undergoing a period of profound demogra. [...] research also finds that residential density yields positive fiscal benefitsIII THE BROOKINGS INSTITUTION METROPOLITAN POLICY PROGRAM Profound demographic and market changes have altered the function of citiesI THE BROOKINGS INSTITUTION METROPOLITAN POLICY PROGRAM Major demographic forces are changing the United States Population Growth Immigration Internal Migration Aging THE BROOKINGS INSTITUTIO. [...] Nelson, 2005 THE BROOKINGS INSTITUTION METROPOLITAN POLICY PROGRAM Major economic forces are changing the United States Globalization Deindustrialization Rapid Innovation Knowledge Industries THE BROOKINGS INSTITUTION METROPOLITAN POLICY PROGRAM Since 1970, the U. [...] research increasingly finds that economic density yields positive benefitsII THE BROOKINGS INSTITUTION METROPOLITAN POLICY PROGRAM Economic competitiveness is enhanced by concentrations of firms, people, and institutions: Higher labor productivity Enhanced innovation Higher population and income growth THE BROOKINGS INSTITUTION METROPOLITAN POLICY PROGRAM Concentration of employment contributes to. [...] research also finds that density yields positive fiscal benefitsIII THE BROOKINGS INSTITUTION METROPOLITAN POLICY PROGRAM The costs of sprawl are well-researched and well- recognized Low density development increases cost of infrastructure: • Utilities • Roads • Streets Low density development increases the costs of key services: • Police • Fire • Emergency medical THE BROOKINGS INSTITUTION METROP.