Is it right that cities offer cash incentives to lure sports teams from other cities?

Question

The issue of cities offering cash incentives to lure sports teams from other cities is only thoe tip of the iceberg when it comes to city competition for business. Bringing in lucrative businesses provides city coffers with new sources of tax revenue while providing jobs to citizens. Corporations take these cash incentives to net a greater profit. Of course, in taking thes deals the cities left behind suffer financially while a significant number of its citizens find themselves out of work. Is it right to offer financial deals and special incentives to some companies or sports teams despite the fact that these cities are hurting their fellow Americans? Is it right that businesses take these deals, or do they have the right to gain the highest possible profit at the lowest possible cost? Explain.

Answer 1

I live in Indy and we recently went through this locally and on a State level. Although many critics think the money spent either directly or in tax abatements could be better spent on schools. prisons, police, or infrastructure....I believe the return on that investment far outweighs the cost. It is purely economics, not cachet. When out of town vistors come for the games, they leave behind a lot of money, in a lot of cash registers, which goes into a lot of paychecks, with a lot of taxes deducted. Hence return on investment.

Answer 2

If I have been working a city and found out a employer became pondering development a plant that would employ one million,000 of my citizens, i might easily evaluate giving tax incentives to make that employer construct the plant right here. As for activities communities, they draw followers from many miles remote from the city. as quickly as interior the city, those followers spend extremely extremely some money besides to the money spent interior the stadium

Answer 3

It is totally fair given the American standard of capitalism, free market economy and freedom of choice.

If you think it is unfair, then you are putting restrictions on these ideals. Sorry, that becomes socialism or communism.

Everyone has a choice. Unless they are breaking some law (by reneging on a contract, for example), sports teams are able to move.

Answer 4

You are being naive. Of course cities lure sports clubs....Look at Tampa that built a stadium and imposed a special sales tax to pay for the stadium.

Answer 5

if the city has the mone to spend to do that it is all wright for them to dod that the city that hase the teame did thay to some ohter city to get the team in the frist place

Answer 6

its fair this is a capitalist country