Funding Amtrak from land rent

December 8, 2008

Real estate developer Jimmy Gierczyk spent $1.5 million to build a New Buffalo station for Amtrak.  It’s  adjacent to his real estate development.  The source article doesn’t give a lot of detail about the project, but notes that he can now more easily market his condos to Chicagoans. Who are accustomed to paying much higher prices than folks in New Buffalo, I’d guess.

All of which raises the question, why can’t Amtrak collect more of the location value it generates or preserves?


One comment

  1. Taxpayer is right on target! Using what is often referred to as the Henry George theorem — written about by many — including Nobelist Joe Stiglitz — there is adequate value generated in the form of economic rent to pay for all the infrastructure investment proximate to it. It needs only be recaptured by a land value tax. Generated by the society, it is justly returned to society.

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