Everyone, for the real reason the investment is being made read on…

Apr 20, 2024
7:54:45am

First-n-10 Contributor

The local government totally wants to do this because they’ll make $33-$54 million per year for the next 30 years. Here’s the plan, clearly not calculated to give Smith more money. https://buildingsaltlake.com/downtown-sports-and-entertainment-district-part-i-city-to-prepare-master-plan-with-virtually-no-public-input/

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Originally posted on Apr 20, 2024 at 7:54:45am

Message modified by First-n-10 on Apr 20, 2024 at 7:55:23am

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First-n-10

Bio page: First-n-10
Joined: Dec 1, 2010
Last login: May 3, 2024
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Messages

Author

Time

Multiple economic studies have confirmed that municipal funding of stadiums and

Genghis Spreads

Apr 20, 2:46am

What about when government funding is only a portion and it brings in a team?

notaboy

Apr 20, 3:27am

Most studies show that it generally is just a transfer of wealth to the owners

NumbersGuy

Apr 20, 4:52am

Nailed it. Great post

boctabulous

Apr 20, 11:03am

A transfer of wealth from middle class taxpayers to the already wealthy.

Les IsMore

Apr 20, 12:35pm

Can you link to some of those studies?

WVU_Prof

Apr 20, 4:48am

Here is a survey paper that has a pretty good literature review on the topic:

NumbersGuy

Apr 20, 4:58am

Interesting read. I know Brad well. Not sure I agree with him entirely here.

WVU_Prof

Apr 20, 1:56pm

It's been a while since I've read papers about this, so my memory may be off.

The Accounting Barro

Apr 20, 7:12pm

I agree...the non-financial benefits to the community are difficult to measure.

WVU_Prof

Apr 21, 2:55am

In addition to what Numbersguy posted, a few great books:

Genghis Spreads

Apr 20, 5:12am

Check out what Maricopa County's sales tax for sports funding...

Les IsMore

Apr 20, 12:48pm

Lyle Lanley put Brockway, Ogdenville, and North Haverbrook on the map after he

kunarcougar

Apr 20, 5:09am

Thumbs up for the first part. Laugh at the second part. Since I live in SLC, sad

fbguru

Apr 20, 5:17am

Im serious about the second part.

Genghis Spreads

Apr 20, 5:39am

Also, I heard they’re just making the Delta Center hockeyable. Not building a

Genghis Spreads

Apr 20, 5:51am

But they're gonna tax the MLB stadium and North Temple project now that they've

fbguru

Apr 20, 6:10am

Yeah that’s idiotic. Can’t believe Utah would do something so stupid.

Genghis Spreads

Apr 20, 6:12am

I like the pretty pics of new bustling restaurants/shops.. that’ll be 50 yards

cougfanz

Apr 20, 6:26am

It takes studies to figure that out?

HighHorse

Apr 20, 5:40am

Multiple!

Genghis Spreads

Apr 20, 6:10am

Anybody with a lick of common sense knows the truth about government paying for

HighHorse

Apr 20, 6:20am

Not how I roll but if that works for you, great.

Genghis Spreads

Apr 20, 6:38am

Now go reseach tax increment financing.

CocaColaRecovery

Apr 20, 6:44am

well duh. while govt should exist to protect its citizens

bald man

Apr 20, 7:34am

Everyone, for the real reason the investment is being made read on…

First-n-10

Apr 20, 7:54am

I’m more concerned about SLC council members

First-n-10

Apr 20, 8:03am

Outrageous. There was no racism in the 1960s.

Genghis Spreads

Apr 20, 9:02am

Multiple studies also show the opposite. That more revenue comes in

davidmj10

Apr 20, 7:57am

Yeah, just tax the visitors. That will surely encourage them to visit.

Les IsMore

Apr 20, 12:55pm

Most would not even notice an increase in tax at hotels etc.

davidmj10

Apr 20, 2:54pm

This line of thinking is why San Diego no longer has the Chargers … huge loss

sandiegocgrfan

Apr 20, 9:02am

They don’t create jobs, they just move jobs from other parts of the city. No one

Genghis Spreads

Apr 20, 10:51am

Sure but at the end of the day, people want their pro teams to stay so they vote for it.

YIsForBrigham

Apr 20, 9:47am

The math is different if the team is coming in from another state. The Buffalo Bills getting $600m to stay in Buffalo is

HarlemCoug

Apr 20, 10:33am

Smith enriched himself at the expense of Qualtrics employees. Don't fund him.

Celeritas

Apr 20, 10:43am

Exactly zero people have ever been forced to work at Qualtrics.

HarlemCoug

Apr 20, 10:45am

What happened? Can you be more specific.

Genghis Spreads

Apr 20, 10:52am

Don't trust me, ask someone you now who works or worked there

Celeritas

Apr 20, 11:09am

SAP bought Qualtrics a few days before Qualtrics' scheduled IPO.

Les IsMore

Apr 20, 1:05pm

Signed Oakland Raiders, Athletics, Chargers, and Sonics fans

runningryan

Apr 20, 12:04pm

Oh don’t forget the construction jobs it creates with the building

runningryan

Apr 20, 12:09pm

Just don't "site them" in that high tax entertainment district.

Les IsMore

Apr 20, 1:07pm

Ryan, I’ve taken Econ 388 and 588 at BYU and ACM 461 at Hopkins. I and another

Genghis Spreads

Apr 20, 6:23pm

The subsidy and method of financing the stadiums in each of the examples cited is different than the one in question

runningryan

Apr 20, 10:58pm

Funding parks and rec in general is most definitely revenue negative.

beefytee

Apr 20, 12:32pm

Sewer, power grid, and water systems aren’t profitable and are revenue negative

runningryan

Apr 20, 1:30pm

KC voted down municipal funding for Royals and Chiefs. Hello Utah Royals! You

Flyoverstate

Apr 20, 3:29pm

Move Andy Reid back home!

runningryan

Apr 20, 4:41pm

People are dumb; they hear the word “tax” and automatically oppose something despite the fact that what is proposed

runningryan

Apr 20, 4:47pm

Big metro areas should sign an agreement not to race to the bottom on stadium

Genghis Spreads

Apr 20, 7:36pm

Sort of like the OECD with Pillar II on global tax rates?

runningryan

Apr 20, 10:33pm

You all going to start whining about the state of Utah having low corporate tax rates and tax holidays to attract

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