An article from the Kingman Arizona Daily Miner points out that Gilbert residents have formed a group called "Stop Developer Incentives" in order to allow the citizens to vote on a agreement which requires the city to repay Vestar $9.7 million out of sales taxes collected from their new shopping mall.
Does this sound familiar? Read about it HERE.
Sunday, May 20, 2007
Goldwater Institute Reports "Subsidies --- Are Wasteful & Unnecessary"
The prestigious Goldwater Institute has just released a report on the negative impact tax incentives to corporations have on Arizona communities. The Institute is a non-profit research organization developing policy solutions that foster economic and educational freedom.
Darcy Olsen, president of the Goldwater Institute said "Subsidies to retailers are wasteful and unnecessary. Every time I've analyzed the economics of these deals, the result is the same; the developer gains millions, the subsidizing city gains comparatively little and often must wait years for a positive return."
Tempe Mayor Hugh Hallman said "Arizona is a great, growing state. I'm amazed that some still believe we need to pay people to move here or subsidize businesses to sell us goods and services. We don't."
We agree. Mayor Hallman is dead-on!
Click Here to read the article.
Darcy Olsen, president of the Goldwater Institute said "Subsidies to retailers are wasteful and unnecessary. Every time I've analyzed the economics of these deals, the result is the same; the developer gains millions, the subsidizing city gains comparatively little and often must wait years for a positive return."
Tempe Mayor Hugh Hallman said "Arizona is a great, growing state. I'm amazed that some still believe we need to pay people to move here or subsidize businesses to sell us goods and services. We don't."
We agree. Mayor Hallman is dead-on!
Click Here to read the article.
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