Recently, there have been keen interests in regeneration of old industrial parks. Applying for policies and business, various indices on deterioration of inner industrial parks have been researched. However, to make regeneration projects work in actual, the condition of economic feasibility has to be met. This study focused on the economic condition of regeneration by enlarging existing indices to those of surrounding area and location as well as business environment. By applying the indices to 83 old industrial parks, which are more than 20 years old, 8 types of involvement in regeneration projects have been deduced. Among 8 types, the most frequently appeared cases were type 4 and 5, which are appropriate for regeneration and restructuring respectively.

The purpose of this paper is to identify the determinants of spillover effects of regional regeneration projects. This finds that the effects are positively determined by population sizes of regions and degree of industrial specialization of regeneration related industries. In particular, the improvement of accessibility through the development of transportation infrastructure facilities can contribute to increases of economic impacts of regeneration projects of high-income regions on the lagged regions. Microeconomic approaches and dynamic modelling need to be integrated for this impact analysis as further research fields.