Multijurisdictional Industrial Parks and Revenue Sharing: An Application of Growth Pole Theory

Abstract

Rural communities often lack the fiscal capacity to make the necessary investments to differentiate their industrial and technology parks in a crowded marketplace. This case study examines Triangle North, a multi-jurisdictional industrial/technology park in North Carolina. The study discusses the application of growth pole theory as the intellectual underpinnings of the joint park, its innovative financing and revenue sharing arrangement, and lessons learned from its implementation that can be applied to other locales.