The "economic impact" math just doesn't add up to justify subsidies for a proposed minor-league soccer stadium in Pawtucket, R.I. As CEA President John Mozena points out in the Providence Journal, stadiums just don't bring in enough people to make a big difference in local economies: Even in the best-case scenario where every one of … Continue reading Op-ed in the Providence Journal: Subsidizing a soccer stadium would be a bad bet for Pawtucket
Op-Ed in The Hill: Congress could use bailouts to solve the interstate subsidy war
As Congress reconvenes to discuss another potential round of COVID-19 relief, CEA President John C. Mozena and Mercatus Center Research Fellow Michael D. Farren are in The Hill, discussing their proposal that the federal government require states to end their targeted economic development subsidy programs as a condition of receiving any federal budget bailouts: Congress … Continue reading Op-Ed in The Hill: Congress could use bailouts to solve the interstate subsidy war
Crain’s Cleveland Business op-ed: Subsidy deals like Sherwin-Williams’ won’t grow Cleveland’s economy
Cleveland's politicians are proposing a package of incentives potentially worth $100 million for paint company Sherwin-Williams' new headquarters in the city. As the CEA's John Mozena writes in this week's Crain's Cleveland Business, this isn't good news for the other businesses that call Cleveland home -- or might want to, at some point in the … Continue reading Crain’s Cleveland Business op-ed: Subsidy deals like Sherwin-Williams’ won’t grow Cleveland’s economy
Detroit News column: Detroiters pay too much for economic development deals
During a time period when Detroit's homeowners were paying $600 million in property taxes that the city later admitted were assessed in error, a developer received approval for $615 million in tax breaks and other incentives for just two projects in the city. In another project, the city spent more money to buy a few … Continue reading Detroit News column: Detroiters pay too much for economic development deals
Buffalo News column: Keep emotions out of Buffalo’s soccer stadium debates
While Buffalo's soccer fans might be passionate for the sport and excited about the potential for a new professional team in the city, they should be careful not to let that passion be used by business and political leaders to justify public subsidies for a stadium that would be a bad deal for the community. … Continue reading Buffalo News column: Keep emotions out of Buffalo’s soccer stadium debates