Greenfield sites are often desirable locations for construction projects but they may come with some challenges to developing the land. Greenfield sites are often compared to brownfield sites because of the way the land is often used for development.
The biggest difference between a greenfield and a brownfield is that a greenfield has never been built on. A greenfield is an area of agricultural or forest land, or some other undeveloped site earmarked for commercial development, industrial projects or other construction projects. Conversely, a brownfield is an abandoned commercial development where hazardous substances or contaminants are typically present. Greenfields generally contain no significant amount of toxic materials. These sites are desirable locations for development because they are often on the edge of towns and cities and may have better access, less congestion, be in a more pleasant environment. Plus, if located on the edge of a town, there may be space and room to expand the development for future use.
There are pros and cons to building on greenfields. Because greenfields are untouched land, they are usually in very good condition to develop on. This makes development on greenfields cost effective. However, the development of a greenfield comes at a price for the environment. Building new land contributes to urban sprawl and can lead to deforestation and the destruction of natural habitats.
Pennsylvania’s Tax Increment Financing Guarantee Program promotes and stimulates the general economic welfare of regions throughout the state. The program assists the development and revitalization of Brownfield and Greenfield sites in Pennsylvania. For more information on the Tax Increment Financing Guarantee Program, click here.
Related- Brownfield Site Redevelopment