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Abstract:

Journal article
The local economic impacts of regeneration projects: Evidence from UK's single regeneration budget
Stephen Gibbons, Henry G. Overman and Matti Sarvimäki March 2021
Paper No' :


Tags: employment; neighbourhoods; regeneration; single regeneration budget; urban policy

Many governments aim to improve the labour market outcomes of people living in deprived areas through "place-making" initiatives. Economists are often sceptical about the effectiveness of such policies, but empirical evidence on their impacts remains limited. We examine the impact of building subsidised business floor space in deprived neighbourhoods in the UK. Our estimates suggest that while the £8.2bn investment into these projects increased the number of jobs located in the targeted neighbourhoods, it did little to improve the employment of local residents. © 2020