Brewing storm: Climate change and brownfield development
Brownfield development has become increasingly important and attractive to investors in recent years. There are more than 5 million acres of abandoned industrial properties across the United States, much of which is ripe for development. Reclamation of these sites can make the environment safer, reclaim valuable land and create jobs. As a result, state and local agencies across the United States are offering economic incentives and funding assistance for the development of these sites. At the same time, the federal government is also offering tax incentives and direct financial incentives to promote their development.
Yet, while these incentives can certainly be attractive to developers and investors, there are also a number of challenges that must be addressed. For the most part, traditional cleanup issues have been mastered. Engineering techniques that include the capping of brownfield sites rather than the removal of contaminated soil have made brownfield development simpl