Area Development
More than 50 percent of environmental and government professionals involved in brownfield projects are seeing an increase in the pace of redevelopment activity, according to a survey conducted by Environmental Data Resources, Inc. (EDR). Another 47 percent view brownfield activity as stable. The respondents included environmental consultants and government officials attending "The Big Deal" National Brownfield Association 2007 conference held in Chicago in mid-October.
"These results illustrate how environmental professionals from both the public and private sectors are on the same page in prioritizing brownfield redevelopment," said Derek Ezovski, managing director of EDR's Property Due Diligence Group. Survey results indicate that the key factors driving brownfield redevelopment growth include more encouragement from government, availability of federal and state grants, tax incentives from state and local governments, and the use of environmental insurance to limit potential cleanup liability.