Home Business News Downtown development could return $511M, Sage report says

Downtown development could return $511M, Sage report says

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Just less than a decade after the unanimous passage of the Downtown Columbia Plan by the Howard County Council, a new report indicates that the redevelopment governed by the plan is “providing Howard County with a new source of tax base, while strengthening public infrastructure and without generating significant burdens on school capacity.”

According to the report’s findings, “Cumulative positive fiscal impacts for Howard County associated with the redevelopment of Downtown Columbia will total $389-$511 million between 2020 and 2048, once one accounts for the cost of local government services and debt service associated with tax increment financing.”

The Economic & Fiscal Implications of Downtown Columbia’s Redevelopment was commissioned by the Downtown Columbia Partnership and prepared by the Sage Policy Group, of Baltimore. It can be found at www.dtcpartnership.com/wp-content/uploads/2019/12/The-Economic-Contributions-of-DTC.pdf.

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