Subsidy

Michigan taxpayers will give $1 billion for Ford’s new EV battery factory, which the automaker says will create 2,500 jobs in Marshall, MI.

Here's what anyone debating public financing for a sports stadium needs to know to combat half truths and exaggerations.

In a new paper from Economic Studies at Brookings, researchers find that federal taxpayers have footed a $3.2 billion bill to fund private sports stadiums since 2000 alone.

Politicians often argue the benefits of raising taxes to pay for sports stadiums, citing all the economic benefits that accrue from attracting major sports teams. But if there were significant economic benefits, wouldn’t private investors have an incentive to pay for the stadiums on their own? Why do we need tax revenues to fund them? This week, economist Lauren Heller joins us to talk about the economics of sport stadiums. Get a 20% discount on the mask not named in the episode by clicking below and using the coupon code wordsandnumbers. https://www.getunmask.com/?ref=8Dgb483n98NjG Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick Hits https://russiandefpolicy.com/2021/12/27/russian-military-pay-still-lags/ https://www.cnas.org/publications/commentary/when-do-economic-sanctions-work-best https://www.wsj.com/articles/self-driving-trucks-start-to-propel-land-rush-near-major-cities-11646053200 Foolishness of the Week https://www.usatoday.com/story/travel/airline-news/2022/02/25/mask-mandate-travel-cdc-guidelines/6938530001/ Topic of the Week https://www.berry.edu/academics/fs/lheller Join the Conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ More James at Smoke & Storieshttps://www.youtube.com/playlist?list=PLjILow4-ZJpBV-NnmSusZJ_vCuzKUJ4Ig Let Us Know What You Think mailto:wordsandnumberspodcast@gmail.com Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitterhttps://twitter.com/JamesRHarrigan

Billionaires have found one more way to fleece the public: sports stadiums. And if we don’t play ball, they’ll take our favorite teams away. This kind of billionaire hardball is why State Farm Stadium, home of this year's Super Bowl, was built in the first place.

Local governments routinely subsidize sports stadiums and arenas using the justification that hosting professional franchises produces economic development and

Here's what anyone debating public financing for a sports stadium needs to know to combat half truths and exaggerations.

Whether or not to fork over the money has divided various groups in Nevada, which relies on tourism and entertainment for a disproportionate share of its economy.

A proposal to help finance a new ballpark for Major League Baseball's Athletics in Las Vegas has revived nationwide debates about public funding for private stadiums. And that has pitted Nevada’s powerful tourism industry and labor unions against some progressive groups, raising concerns about ceding tax revenue when services such as public schools are funded below the national average. Proponents say the proposal could create new jobs, increase the state’s general revenue and further diversify the city's casino and gaming-based economy. But skeptics warn of empty promises, citing growing evidence that minimal dollars generated from the new stadium would not otherwise be spent among nearby resorts and restaurants.

pic.twitter.com/EsdaVSKmdI— J.C. Bradbury (@jc_bradbury) March 28, 2023

The tech company Oracle has agreed to take on $175 million worth of infrastructure development in return for substantial tax breaks. However impressive that number may sound, it’s only pennies compared to the full price of the project. The NFL and Tennessee Titans have also pledged to pay roughly $840 million to help cover the cost of a new stadium. While this is admittedly a good chunk of change, that still leaves well over a billion dollars to Nashville and the state of Tennessee.

The state needs to up its economic development game to compete among states that are growing, Business Leaders for Michigan says. Doing so will require setting a long-term education and business development plan.

Understanding elasticities can help explain why Tesla raised the price of its Model Y by $1,000 after the Treasury Department relaxed its tax credit terms for electric vehicles.

Subsidies are often a policy go-to for governments wanting to encourage more climate-friendly behaviours. But they should be used with caution.

It’s a long-term play to boost manufacturing in the US.

The Chips and Science Act includes more than $52 billion in funding for U.S. companies producing computer chips, among other provisions.

How American life was changed by a subsidy that ride-hail companies can no longer afford.

Musk said in an interview that more social spending would just add to the already sky-high federal deficit.

The price for Ubers, scooters and Airbnb rentals is going up as tech companies aim for profitability.

The United States and the European Union have agreed a truce in their near 17-year conflict over aircraft subsidies, suspending for five years one set of Trump-era tariffs which had soured relations between them.