PRESS CALL TODAY: Reducing Violent Crime will Increase Housing Values, Save Taxpayers Millions
New Analysis Calculates the Economic Benefits of Reducing Crime in Boston, Chicago, Dallas, Houston, Jacksonville, Milwaukee, Philadelphia, and Seattle.
Contact: Katie Peters
Washington, D.C. — Today at 1:30pm EST, the Center for American Progress will host a press call to release the results of an analysis of the impact that violent crime rates have on local real estate values and city fiscal stability.
The report presents the findings of a new and sophisticated approach to estimating the financial impact of reductions in violent crime by examining crime, residential property values, and municipal expenditure data in eight major American cities, including Boston, Chicago, Dallas, Houston, Jacksonville, Milwaukee, Philadelphia, and Seattle. Based on the results of this innovative investigation, the analysis estimates the potential savings property owners and city governments would gain by significantly reducing violent crime.
Violent crimes—such as murder, rape, assault, and robbery—impose large costs on communities through lower property values, higher insurance premiums, and reduced investment in high-crime areas. These crimes also impose significant costs on taxpayers, who bear the financial burden of maintaining the police personnel and operations, courts, jails, and prisons directed toward these crimes and their perpetrators.
In today’s tight fiscal and economic environment, the mayors and city councils of every city—along with state and the federal governments—are searching for ways to reduce their spending and expand their revenues. On this press call the researchers behind the analysis, as well as CAP Senior Fellow Donna Cooper and National Urban League President Marc Morial, will discuss a cost-saving option available to many American municipalities: secure budget savings, higher revenues, and personal income and wealth gains by reducing violent crime rates.
- Donna Cooper, Senior Fellow, Center for American Progress
- Marc Morial, President, National Urban League
- Rob Shapiro, Chairman, Sonecon, LLC
- Kevin Hassett, Director of Economic Policy Studies and Resident Scholar, American Enterprise Institute
TODAY – Tuesday, June 19, 2012
1:30 p.m. EST
ID # 91684440
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**Please note, this call will be recorded. By participating in the call, you consent to being recorded.**
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