Economy of Kazakhstan ECN3189 L, Mussurov Altay

a loan required by a developer to bridge the gap, i.e. to make up a deficiency be-tween the amount of mortgage loan due upon project completion and the expenses incurred during construction (financing that covers the difference between what a project can support and the cost of development or purchase).

fees are required to cover costs of improving and/or building infrastructure needed as a result of the expected impact of development project on those facilities. Often required by localities for the approval of development projects.

benefits offered to firms as part of an industrial attraction strategy. A few incentives are tax abatements and credits, low interest loans, infrastructure improvements, job training, and land grants.

these bonds are used to finance acquisition, construction, expansion, or renovation of manufacturing facilities and the purchase of machinery and equipment depending upon state law. IDB financing is subject to state and local laws and federal income tax laws and regulations if the interest on the bonds is expected to be exempt from federal income taxation.

bonds that provide lower-cost financing for real property improvements or the purchase or construction of buildings, facilities, or equipment.

geographic concentrations of related businesses B complementary or competing. Regions identify clusters as targeted businesses for future planning and marketing efforts. There are two types: (1) buyer-supplier clusters and (2) shared resources clusters.

public-targeted lending facilities, financed through a combination of bond issues, government funds and external donor support. They mobilize domestic funds, and create an at-tractive vehicle for donor funding.

explanation of development that stresses the importance of an educated, skilled, and dependable workforce for attracting and growing businesses; accepts the concept that the public sector has a responsibility to fit human resources to the needs of the business community.

a program that preserves industrial space for a city. A city or local development authority acquires and holds land until a developer steps forward with a proposal for its use as an industrial site.

explanation of economic development that emphasizes factors such as transportation, access to raw materials and labor, taxes, business climate, and quality of life as they relate to industrial location.