Smart Growth America recently released a new report titled “Building Better Budgets: A National Examination of the Fiscal Benefits of Smart Growth Development,” which discusses the economic benefits of smart growth as opposed to traditional development patterns. According to SGA, it is the first to determine a national average for how much communities can expect to save through the use of smart growth strategies.
The report analyzes 17 case study areas, comparing development scenarios within each. The first scenario, “smart growth development,” is characterized by more efficient use of land; a mixture of homes, businesses and services located close together; and better connections between streets and neighborhoods. The second scenario, “conventional suburban development,” is characterized by less efficient use of land with homes, schools and businesses separated and areas designed primarily for driving.
Their findings include the following:
- Smart growth development costs one-third less for upfront infrastructure.
- Smart growth development saves an average of 10 percent of the costs for ongoing delivery of services.
- Smart growth development generates 10 times more tax revenue per acre than conventional suburban development
Ohio has seen an increase in the adoption of smart growth policies, including most recently in Piqua. GOPC continues to address the need for more smart growth policies throughout the state.