I just showed you I would.
I'm on the same side as you on most issues, but you're wrong on this one. These tax abatement schemes are corporate welfare. Even if one state or city benefits from an individual case, when they all do it they are just playing beggar thy neighbor and they all get screwed. The taxpayers end up subsidizing certain favored corporations and screwing all the other businesses in the city.
Not really because the other businesses will not be affected. They will have the same business, pay the same taxes they've always paid, nothing will change for them.
What happens is the city gets a new tax revenue stream. That's good for everybody involved.
Amazon receives a 75% subsidy on property taxes and other businesses get NOTHING?
How is that good?
Every business that offers to spend millions developing new land, can get the tax abatement. Everyone that offers to invest that kind of money, can get the tax abatement.
They didn't pick Amazon because they like Amazon, and Bob knows Dan, who knows Tim, who knows Fred at Amazon.
They picked Amazon because the company offered to spend multi-millions investing and developing the land.
ANY company that offers that, can get a tax break.
Amazon is getting FREE land AND a tax abatement.
Why does a company with $136B in revenue (2016) need a tax abatement?
It doesn't "need" anything.
How many mechanics shops offer special deals and discounts to get you to buy from their shop? How many $10 off your next oil change? Or buy 3 tiers, get the 4th one free?
Tons of them do. Do you "need" to get $10 off your next oil change? No you don't. Are you opposed to all those deals too, since you don't "need" it?
Now, I still found it interesting when you mentioned 'free' land. Most of the deals I've looked at, do not involve free land. So I was interested to see what was going on here.
So I started to do some digging, which is what I normally do whenever I hear something interesting.
Let me say from the start, that I am against these "planned neighborhood" type approaches. I don't see that they work. I see that they often fail. I see they routinely start off really big, and quickly turn to crap.
MAYBE... Dublin will have better results... who knows. But if it was my city, I would oppose the plan.
So here is what I found.
Apparently the City of Dublin owns the land right now. Moreover, they have owned this land since before 2007. So 10 years at least, if not longer.
I for all my digging, could not find a single reference to HOW the City of Dublin came to own the land.
However, what I do know, is that giving the land away, was part of the plan from the beginning.
http://dublinohiousa.gov/dev/dev/wp-content/uploads/2017/08/OBAs-presentation.pdf
They have given the land away to various companies already, and universities and colleges, and hospitals. OSU already had land there. Dublin Methodist Hospital has land. Columbus State Community College has land there.
You complain about Amazon getting free land.... well one would think that OSU that collects $6 Billion a year,
including $500 Million in direct money from the tax payers of Ohio.... could afford to buy their own freakin land.
But about a dozen companies already got free land in this "West Innovation District" that Dublin is running.
Again, it's not just Amazon. It isn't some special deal that only Amazon is getting. Many companies are involved in this, because it was the whole point of the Dublin plan. Again... why the citizens of Dublin City, are paying tax money, and like this... I don't know. But this is their deal. The citizen of Dublin have supported this plan.
That's their right.
Let me back up and look at this from the tax revenue perspective.
Again, as I said before, I'm against these centrally planned development projects, because I see that they rarely work out in the long run.
However, from a purely tax revenue perspective, it now seems more logical than before.
The City of Dublin has owned this land for over 10 years. How much tax revenue has the land generated for those years? ZERO. None. The land hasn't generated anything.... as in... anything at all.
IN FACT.... maintaining this unproductive land, has COST THE CITY. They have to keep the grass cut, and maintain the land. That costs money. So in fact, holding onto this land over ten years, has not only not produced any tax revenue, but has cost tax money.
Now... which makes more sense.... holding onto unproductive land that costs money, and produces zero tax revenue for another 10 years? Or giving it away free to a major corporation that will spend $1.1 Billion dollars in investment, and create thousands of high paying jobs, all of which will produce millions on millions of dollars in tax revenue, even if they have a tax abatement on the property tax?
Which is better.... ZERO taxes, or MORE THAN ZERO taxes?
Now the Free-market capitalist side of me, says what would be even better, is to not have socialism at all, and the city never owning the land to begin with, and always be collecting property tax. But the City already owns the land, and has for over a decade. So that option is passed.
Now given the current situation.... unproductive land costing money, producing nothing, generating zero taxes at all..... yeah giving it away to any company that will actually make use of the land, and do SOMETHING.... ANYTHING with it... is better than the city owning for another 10 years, without any benefit.