The Business of Urban Renewal
When a company is interested in rebuilding any area of a city, local environmentalists and residents often express concerns about the impact it will have on their lives. They see these projects as a way for outsiders to reap a profit while ruining their homes, but few of them look at how it can change their lives in a positive way. There are many different impacts when urban renewal takes place, but many of them will benefit local residents for many years to come.
Building commercial or residential areas takes many people, and employment for locals is one of the benefits that come from renewal projects. While it is true that many of them will be entry level construction work, it does teach people how to do work they might never have considered. Locals can learn a trade while they are employed with the project, they will be paying more taxes to local governments, and they help grow the local economy as they spend their paychecks. The trend will continue as local businesses expand, and the trend can continue after the buildings are completed.