ECONOMICS UNIQUENESS

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10 ■ THE <strong>ECONOMICS</strong> OF <strong>UNIQUENESS</strong> and today there are 30,000 people employed in fi nancial services and ancillary support activities in the IFSC. Dublin is now a center for international banking, funds management, and insurance, and the sector continues to grow despite the international fi nancial crisis. In 1997, the CHDDA was subsumed into the Dublin Docklands Development Authority (DDDA) with a broader mandate to promote the development of the entire Dublin docklands area consisting of 520 hectares. Since the DDDA’s inception in 1997, the area under its control has attracted more than €3.35 billion of public and private investment and has seen the creation of 40,000 new jobs. Th e number of residents in the area has grown from 17,500 to 22,000, and 11,000 new homes have been built, of which 2,200 are either social or aff ordable. In addition, the area has developed as a vibrant cultural center with a new theater and a new concert venue. In 2003, as part of a further urban regeneration initiative, the government formed the Digital Hub Development Agency, an Irish state agency, to establish a digital hub in the historic Liberties area of the city. Its role is to provide incubator space and support for largely indigenous, small and medium-size enterprises while promoting the broader social and economic regeneration of the area. It currently houses more 90 such enterprises developing products ranging from mobile apps to online games. Dublin, as the major urban center in the country, had always attracted a signifi cant share of FDI into Ireland. By the mid-1990s, it was already attracting major investments from an impressive range of international companies, including Intel, Microsoft , Oracle, IBM, and SAP, as well as major fi nancial institutions such as Citicorp, Merrill Lynch, Deutsche Bank, and HSBC. (See fi gure 1.1.) IDA Ireland recognized that this established track record, combined with the exciting urban redevelopment of the city core, provided the opportunity to promote Dublin as a “talent hub” that would attract the web-based knowledge industries of the future as well as encourage the existing technology and fi nancial services companies already established there to deepen their investment and add more knowledge-based activities. To succeed with this endeavor, it was evident that Dublin would need to have state-of-the-art data interconnectivity with the rest of the world. While this would be largely supplied by the private sector, it was clear that some pump priming would be needed, so IDA Ireland sought and received government funding to invest in a project, called Global Crossing, that connected Ireland to the transatlantic fi ber network between the United Kingdom and the United States and thus to the rest of the world. Th is made Dublin a credible location for investment projects that require the speedy and secure transmission of high volumes of data at a competitive cost.
LIVABLE HISTORIC CITY CORES AND ENABLING ENVIRONMENT ■ 11 FIGURE 1.1 Historic Core of Dublin: Home to the Digital Hub, the IFSC, and Leading Online Players Grangegorman Lower Queen St Usher St St Brendans Hospital Meath Pl Reginald St Coopers Ln Smithfield Irish Whiskey Corner The Brazen Head R108 Oliver Bond St Thomas St Meath St Ardee St ebay Molyneux Yard Meath St The Coombe Mill St Lincoln Ln Johns Ln Ash St Friary Ave Vicar St Weavers St Newmarket Mill Ln Morning Star Ave Brunswick St North Usher's Quay St Augustine St North King St Bow St Hammond Ln Arran Quay R810 AOL Swifts Alley Garden Ln Carmans Hall R110 Cornmarket R110 Spitalfield Church St Broadstone Church Ave Four Courts Lamb Alley Francis St Prebend St Church St Upper 0 0.125 0.25 0.5 KM Dublin Corp. Civic Offices Christchurch Cathedral (C Of I) Cook St Coleraine St Back Ln Beresford St John Dillon St Hanover Ln New Row South Constitution Hill R108 Greek St Chancery St Merchants Quay Temple Cottages Anne St North Cuckoo Ln Chancery Pl Charles St West Halston St St Michans St Ormond Pl Ross Rd Bride Rd Bull Alley St St Patricks Close Henrietta Ln Henrietta St Henrietta Pl Green St Mary St Little River Liffey Fishamble St Campbells Court Werburgh St St Patricks Cathedral (C Of I) Marys Abbey Jervis Ln Upper Essex St West Copper Alley Castle St Chancery Ln Golden Ln Loftus Ln Kevin St Jervis Ln Lower Essex St East Crane Ln City Hall Dublin Castle Ship St Great Peter St Granby Ln Longford St Peter Row Dominick Pl Marys LnMary St High St New St South N2 Paypal Inns Quay Amazon.com Dominick St Upper Winetavern St Nicholas St Arran St Christchurch Pl Bride St Bolton St Ryders Row Capel St Kings Inns St Lord Edward St Dorset St Upper May Ln R804 The Digital Hub Clanbrassil St Upper N81 Patrick St R110 0 0.125 0.25 0.5 Mile Wood Quay Essex Quay Wolfe Tone St Bishop St Kevin St Lower Source: Copyright Map Resources. N4 N4 Parliament St N2 Granby Row Dominick St Lower Jervis St Stephen St Upper Parnell St Granby Pl ILAC Centre Abbey St Upper Ormond Quay Lower Sycamore St Eustace St Olympia Theatre Dame St Aungier St South Great Georges St R114 Parnell Sq North N1 Bow Ln East Aungier Pl Liffey St Upper Bow Ln Crow St Dame Court Fade St Stephen St Lower Mercer St Upper Cuffe St R114 Parnell Sq West Strand St Great Temple Bar Drury St Rotunda Hospital York St Cuffe Ln N1 Liffey St Lower GPO Bank Of Ireland Arts Centre Mercer St Lower Moore St Cope St Dame Ln Parnell Sq East Moore Ln Henry St Lotts Exchequer St William St South N1 St Stephens Green Trinity College Merrion Square A basic pillar for the promotion of Dublin as a talent hub was the concentration of higher education institutions in the city. Th ese include three universities (Trinity College in the city center and University College Dublin and Dublin City University just outside the center); the Dublin Institute of Technology, also in the city center; and the National College of Ireland that relocated its campus to the heart of the IFSC as part of the urban redevelopment project. Th ese institutions educate 65,000 undergraduates and postgraduates in the full range of disciplines, with a strong focus on technology and business. Th ey also conduct a wide range of research, with faculty and postdoctoral students drawn from varying backgrounds and nationalities; research activity has increased signifi cantly since 2002 with the support of Science Foundation Ireland. While having good higher education institutions locally can provide a stream of talent, it was clear that this, while necessary, was not suffi cient to build a talent Rutland Pl Henry Pl PopCap Anglesea St Rutland Pl Princes St North Litton Ln Bachelors Walk Foster Pl St Andrews St Chatham St King St South O'Connell St Upper Aston Pl Bank Of Ireland Gaiety Theatre James Joyce Centre Findlater Pl Cathal Brugha St Abbey St Middle Fleet St Prices Ln Suffolk St Wicklow St Clarendon St St Stephens Green West Parnell St O'Connell St Upper Aston Quay O'Connell St Lower St Thomas Ln Cathedral St Grafton St Annes Ln Britain Pl St Marys Pro Cathedral (RC) Earl St North Grafton St Hill St Earl Pl Sackville Pl Duke St Anne St South Cumberland St Sean MacDermott St Upper Marlborough St Abbey St Lower Westmoreland St Abbey Theatre College St Eden Quay D'Olier St Hawkins St Dawson Ln Irish Life Shopping Mall Burgh Quay Old Abbey St Townsend St Pearse St Nassau St Molesworth St Setanta Pl Talbot St Beresford Ln Tara St Parliament N11 Hume St Mabbot Ln Sean MacDermott St Lower Beresford Pl Luke St Merrion Row Corporation St Busaras R105 Custom House Ely Pl Moland Pl Poolbeg St Georges Quay Railway St Moss St Shaw St Talbot Pl Mark St National Gallery Of Ireland Merrion St Upper Store St Clare St Baggot St Lower Beaver St Foley St Merrion Sq West Princes St South Amiens St Marks Ln Fitzwilliam Ln Buckingham St Lower Sandwith St Lower Merrion Sq South R105 Connolly City Quay Westland Row Harbourmaster Pl Wellington Quay Custom House Quay Twitter N81 N11 N4 N11 N11 Dawson St R803 Gardiner St Lower Yahoo! N11 R816 R105 R802 IFSC R105 Linked in GILT GROUPE R802 Kildare St Custom House Quay R105 Facebook R802 Google R118 Pearse St R118 Zynga R118 R816 N11 South Cumberland St Fenian St Georges Dock R813 R814 Lombard St East Magennis Pl Merrion Sq North Sheriff St Lower Bass Pl Exchange Pl R801 Townsend St Pearse St R815 Microsoft Creighton St Sandwith St Lower Boyne St Denzille Ln Commons St Sandwith St Upper Holles St Merrion Sq East Seville Pl Crinan Strand Windmill Ln Oriel St Upper Hanover St East Holles Row National Maternity Hospital Stephens Pl Mount St Upper Mayor St Lower R101 Wall Quay City Quay Hogan Pl R118 Erne St Upper Erne St Lower Mount St Lower Grants Row Verschoyle Pl Stephens Ln
Page 1: Public Disclosure Authorized Public
Page 4 and 5: Th e Urban Development Series discu
Page 6 and 7: © 2012 International Bank for Reco
Page 8 and 9: vi ■ CONTENTS Project Appraisal i
Page 10 and 11: viii ■ CONTENTS Appendix II: Addi
Page 12 and 13: x ■ CONTENTS 7.4 Tourism Is Coupl
Page 14 and 15: xii ■ CONTENTS 9.1 How to Organiz
Page 17 and 18: Exegi monumentum aere perennius reg
Page 19: ACKNOWLEDGMENTS ■ xvii Cultural O
Page 22 and 23: xx ■ OVERVIEW What Are the Object
Page 24 and 25: xxii ■ OVERVIEW and captures the
Page 26 and 27: xxiv ■ OVERVIEW periphery, especi
Page 28 and 29: xxvi ■ OVERVIEW tourism—by impr
Page 30 and 31: xxviii ■ OVERVIEW 3. Institutiona
Page 33 and 34: 1 Livable Historic City Cores and E
Page 35 and 36: LIVABLE HISTORIC CITY CORES AND ENA
Page 41: LIVABLE HISTORIC CITY CORES AND ENA
Page 47 and 48: 2 Investing in the Sense of Place:
Page 49 and 50: INVESTING IN THE SENSE OF PLACE ■
Page 61 and 62: 0 45° INVESTING IN THE SENSE OF PL
Page 65 and 66: FIGURE 2.4 continued INVESTING IN T
Page 71 and 72: A Dubious Alternative: Property Rec
Page 75: INVESTING IN THE SENSE OF PLACE ■
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60 ■ THE ECONOMICS OF UNIQUENESS
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TABLE 4.1 Overview of Hedonic Price
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FIGURE 6.5 Quito and Oaxaca: Timeli
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TABLE 6.5 Quito Investments in the
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7 UNESCO World Heritage List, Touri
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UNESCO WORLD HERITAGE LIST, TOURISM
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TABLE 7.1 Regional and Historical D
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TABLE 7.3 Benchmark Regressions Fir
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TABLE 7.10 Robustness to Using Diff
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8 Financial Mechanisms for Historic
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FINANCIAL MECHANISMS FOR HISTORIC C
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BOX 8.2 FINANCIAL MECHANISMS FOR HI
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BOX 8.3 FINANCIAL MECHANISMS FOR HI
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TABLE 8.1 Local Financial Tools Use
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FIGURE 8.4 Brownfi eld Concession T
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Boxes, fi gures, maps, notes, and t
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China. See also specifi c cities ac
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public sector role, 222-26, 223b, 2
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Kraay, A., 198 Kratz, C. G., 96 L l
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Pine Ridge Reservation (U.S.), 238
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Shaoxing, China, local residents re
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urban economics appraisal approach,
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ECO-AUDIT Environmental Benefits St
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ECONOMICS UNIQUENESS

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