Impact Fees, Growth Management, and Development: A Contractual Approach to Local Policy and Governance.” Urban Affairs Review 41(6

This article explores economic consequences of impact fees on local economic development and job growth. The authors focus on the implied contractual relationship between local governments and the development community in shaping patterns of economic growth in the community. Pooled time series cross-section analyses are employed to estimate economic con-sequences of impact fees in 66 Florida counties from 1991 to 2001. Contrary to the conven-tional wisdom that impact fees increase development costs and impede economic development, the authors report that implementation of impact fee systems enhances economic performance and lead to job growth