Increase in the value added of land due to the establishment of industrial parks

Abstract

Industrial parks (IPs) are a frequently used regional policy tool to increase economic viability and social equality. Successful functioning of such areas can increase land use efficiency and, by attracting investment, create high added value nationwide. However, the creation of IPs requires significant initial investments in the installation of their infrastructure and the preparation of plots of land, which is often realized through public financial instruments. The overall objective of the research is to present the different strategies for IP development in three different countries’ economies, to discuss the outputs and added value created by such areas, and to provide insights and suggestions for the planning and development of efficient industrial land as well as to increase its value in the developing and middle-income countries. To achieve these aims, the authors of the research present and analyze IP development practices and policy tools in the developed countries of Lithuania and Portugal, and provide suggestions for the developing country of Ukraine. In this study, the authors use statistical and spatial GIS and economic data, and analyze and compare them. The results show that IPs are being developed all over Europe and the world, but each country is creating its own legal framework and appropriate incentives for companies operating in these areas, so the performance of such areas varies a great deal.