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Itís Time to Sack Handouts for Floridaís Sports Teams

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Old 08.25.17, 06:42 PM
@AFPhq @AFPhq is offline
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Itís Time to Sack Handouts for Floridaís Sports Teams

08.25.17 05:38 AM

Fall is just around the corner, and football is on everyoneís minds. But Florida shouldnít put the tab on taxpayers for the home teamís next touchdown. Thatís why Rep. Bryan Avila has presented H.B. 6005 to end the Sports Development Program, our stateís slush fund for sports stadiums. This program has wasted $90 million over the last 30 years to benefit sports executives. Amy Baker, our stateís chief economist, has even criticized the method the Department of Economic Opportunity uses to measure the Sports Development Fundís return on investment. Handouts and incentive programs like the Sports Development Program waste money and fail to boost the economy. Tampa and Miami spent $10 million and $634 million respectively to renovate and build stadiums in their cities. These projects were funded by a combination of state and local money. But they didnít produce the desired results. Instead, attendance at the Tampa Bay Tropicana Field dropped from 1.4 million in 2006 to 1.2 million in 2016. In Miami, the money went to a team that misrepresented its finances, resulting in a federal investigation. Studies on incentives programs show they donít work in other industries either. One study revealed that special tax breaks and subsidies […]

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