Fiscal incentives and urban regeneration in Dublin 1986-2005

Abstract

Purpose – This paper seeks to examine the critical role fiscal incentives have played in urban regeneration in Ireland since 1986, focusing on the role of such incentives, their impact on development and implications for the market of their termination. Design/methodology/approach – The paper is structured as a periodised chronology where real time is divided into analytically defined phases linked to policy shifts. In this way features of urban regeneration policy can be discussed within the economic context and policy constraints within which their decisions were shaped. Policies have evolved from blanket subsidisation of development in designated areas towards a more selective approach. The paper reflects the results of structured interviews of policymaking, planning and development interests on the operation and effectiveness of the schemes. Quantitative analysis of the costs and benefits of a selected number of property developments in Dublin is included and can be compared with similar schemes internationally. Findings – The findings of this paper are that urban regeneration policies as operated over the period have had a significant role in the physical rejuvenation of previously derelict areas and that the role of incentive based policies requires continual monitoring to avoid market distortion effects and to achieve wider regeneration objectives in terms of social and economic aims. Originality/value – Despite the importance of the subject there has been a noticeable lack of evidence-based research in the area and this paper provides quantitative and qualitative evidence based material upon which further research on the costs and effectiveness of the schemes can be based.