
State And Local Issues | |
Stadium Subsidies Strike At Taxpayers' Wallets |
In several instances recently, voters and taxpayers have nixed suggestions they shell out to build new sports arenas for major- league teams. Then they found that politicians were doing an end-run and financing the structures anyway.
Experts note that while the facilities are growing ever more lavish, their life spans are growing shorter. Facilities built as recently as the 1970s and 1980s are being abandoned. Taxpayer-subsidized ballparks cannot even be justified on grounds they boost local economies. Every independent analysis shows no positive economic impact arising from subsidized stadiums and arenas. The most recent study, by Dennis Coates and Brad Humphreys at the University of Maryland, not only found no effect on per capita income growth from the presence of sports teams and stadiums, but an actual negative impact on local income levels. Source: Raymond J. Keating (Small Business Survival Committee), "No Cheers for Stadium Subsidies," Investor's Business Daily, July 15, 1999. For more on State and Local Spending http://www.ncpa.org/pd/state/state5.html |
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