40 Pages Posted: 4 Jul 2010
Date Written: November 16, 2002
Many state and local government officials seem bedazzled by visions of tourists paying for entertainment and leisure attractions in such magnitude that significant economic development benefits will flow from these “smokestack-less” businesses. Public officials turn to a variety of public finance incentives to attract and maintain amusement parks. This paper highlights the theme of public finance in the amusement park industry. The aim of this study is to broaden the understanding of the impact of tourism on local government finance. Specifically, a regression model is developed to examine the relationship between the degree of reliance of the local economy on theme parks and fiscal and non-fiscal factors. This initial research validates that there is a strong theme of public finance in the amusement park industry, with both thrills and chills.
Keywords: Theme park, amusement park, financial incentives, economic development, municipal bonds, tourism, state and local finance
JEL Classification: H10, H70, H81, L33, L83
Suggested Citation: Suggested Citation
Hildreth, W. Bartley and Wong, John D., The Theme of Public Finance in the Amusement Park Industry (November 16, 2002). Available at SSRN: https://ssrn.com/abstract=1634067 or http://dx.doi.org/10.2139/ssrn.1634067