J.C. Bradbury
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jcbradbury.com
J.C. Bradbury
@jcbradbury.com
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Economist, Georgian, Gadfly Stadium Subsidies, Film Incentives, Local Economic Development, Sports Economics Tariffs bad. Vaccines good. #ATLUTD jcbradbury.com
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After 2 years of writing, I sent this out for review today.
You know what might be infinitely more effective at fighting poverty than spending $800million building a basketball arena?
Taxpayers need to build a new luxury-laden NBA arena for the local billionaire owner in order to ...[reads story]... "fight poverty."🤦These people aren't just shameless, they think voters are stupid. www.expressnews.com/opinion/comm...
A case for Props A and B: Investing in San Antonio’s growth will fight poverty
If we are serious about tackling poverty, we must invest in our people and our place.
www.expressnews.com
When he wrote this in the 1990s, the Gateway development was already losing money and was being sued by contractors for not paying its bills. The blind arrogance here is just staggering. Yet, somehow these lessons are quickly forgotten, rather than learned.
It's worth remembering that Cleveland was promoted as an example of a sports-focused urban development strategy that wouldn't suffer the fate of venues in other cities. Its project leader Tom Chema even chastised economists for suggesting otherwise. www.tandfonline.com/doi/pdf/10.1...
This must be the first lesson in the Bizarro-world public finance class that elected officials apparently complete before taking office.
Cleveland mayor says "no more bailouts" while pushing a bailout plan for two downtown sports venues, which were pitched as economic catalysts that would pay for themselves, but have of course been money losers.
Bibb to Cavs and Guardians: No more bailouts until there’s a new game plan to fund stadium repairs
Mayor Justin Bibb has a plan to help fund stadium repairs, the teams aren’t ready to talk about it.
buff.ly
This is the same lady who condescendingly scowled at me over her glasses and said she didn't believe 50 years of economics research on the inadvisability of public stadium investments because it contradicted her vibes. Never change, Courtney.
People don’t believe crime statistics now because they are going down and that doesn’t fit their narrative.
We can't have a good faith debate about public venue subsidies if project supporters are going to ignore *basic* principles of public finance.
Tax districts divert existing commerce and tax collections to fund the venue. "Visitor taxes" are not fully exported (and car rental taxes aren't visitor taxes). It should be obvious that you can't costlessly pull tax dollars out of thin air. THERE'S NO SUCH THING AS A FREE STADIUM.
Oh look, another "fiscal conservative" who declares that government can fund a sports venue without raising taxes. Yeah, and David Copperfield really made the Statue of Liberty disappear. Just say, "I like sports," and I will respect you more. www.expressnews.com/opinion/comm...
How a skeptic’s reservations were allayed, and why he voted ‘for’ Project Marvel
The Young Republicans of Bexar County’s president was skeptical of Propositions A and B.
www.expressnews.com
That was the most enjoyable World Series in my lifetime. Sorry to see it end.
It's not reasonable to expect society to not spoil the World F'n Series for you. I was pleasantly surprised to receive a bonus newsletter to read while eating breakfast.
I 100% remember that commercial.
You are missing my point. Cooperation clauses are designed to look benign (and politically savvy) and then later used to access the public treasury. Bibb gets to look strong and still have great seats. Haslam isn't committing "$100 mil" that he doesn't expect to get back.
ZERO TAXPAYER DOLLARS IS A BETTER DEAL
Municipalities across the country are saddled with stadium debts all because members of the local upstanding businessmen's backslappers society (which includes newspaper publishers/editors) delude themselves and community leaders into thinking it's for the public good.
They are literally doing the Tobias meme. A serious publisher would fire the editor who wrote this sophomoric trash. It's that embarrassing.