Remediation firms that pursue opportunities related to Federally-funded brownfields projects should be aware that little, if any, of this funding, at least initially, is likely to be used for site remediation. Therefore, business opportunities for the remediation sector on redevelopment projects funded by Federal and state programs are likely to be limited. Second among the obstacles cited by the focus group participants was time . The timeframe required to realize a return on investment is often too long for many companies, and liability concerns can complicate efforts to obtain financing. For many municipalities, the timeframe can be as long as 10 to 20 years which is too costly for most private environmental firms, particularly small, regional firms.
Venture capital is expensive, particularly for redevelopment projects with long timelines.
Technical expertise was another commonly-cited obstacle limiting opportunities in the brownfields market. Participants also cited the absence of a voluntary cleanup program or inflexibility in regulations as strong constraints to brownfields redevelopment. Even if a state has already put a voluntary cleanup program in place, certain programs have been criticized for actually discouraging redevelopment. For example, the initial excitement about Maryland's 1997 brownfields redevelopment program has not lived up to expectations. Of the thousands of suspected brownfields sites in Maryland, only 52 site owners applied for assistance under the state program, and of those, only four sites qualified for state grants and tax credits.