A Study on the Introduction of Business Improvement Districts for Central City Revitalization in Foreign Countries

초록

There have been continuous efforts to introduce policies and measures for revitalizing local businesses and industries which became obsolete physically and economically in downtown areas. Those strategies can play a significant role for leveraging local economic growth as well as improving environmental quality of the areas. In particular, the consistency of the residents’voluntary participation and the public support made it possible to achieve local economic development and cultural and community revitalization in downtown areas of developed countries. Among a variety of relevant endeavors, BID (Business Improvement District) is considered as one of the most important measures which has become popular in the U.S., the U.K., Germany and Canada. This study introduces and compares some BIDs and similar measures which have been implemented in the U.S., the U.K. and Japan. Then, it investigates major issues related to backgrounds, purposes and specific contents of the strategies when they are put into effect. The purpose of this research is to suggest some implications for introducing innovative urban policies and measures for regenerating depressed urban areas and stagnant downtown areas physically and economically. They can include grass-roots organization and self-sustaining financing strategies through the partnership among local residents, municipalities and central authorities.

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