Unlocking the full potential of city revenues
- Loay AlMujadidi, Christian Azoury, Dirk Schmautzer, and Jonathan Woetzel
- Jul 2019
- McKinsey & Co
- International
Most cities have yet to unlock the full potential of their existing revenue sources, let alone tap into new streams. Despite the numerous options available to generate more funding for city operations, elected officials must proceed carefully. Maintaining public support is critical to the longer-term viability of such efforts, and cities must create an attractive business climate. Cities that successfully cultivate a mixture of actions can dramatically improve their fiscal health and improve services for their residents. A disciplined approach to revenue development has been shown to increase potential additional revenues by 50 percent.
