From Robert Whitcomb’s “Digital Diary,’’ in GoLocal24.com
Publicly funded projects such as that in and around the Worcester Red Sox’s pending Polar Park Stadium, involving a taxpayer commitment of $132 million, up $9.4 million from the previous estimate, tend to create metastasizing tax breaks. Consider that Worcester City Manager Edward Augustus now wants additional tax breaks for private developers in the WooSox district, in this latest case for a 15-year tax break for a building near the ballpark’s left field and for a residential building, and a 10-year tax break for an office, labs and retail complex.
Maybe these projects will indirectly create long-term tax-revenue streams for the city in the form of more economic development and new property-tax revenue nearby -- and maybe not. Depends a lot on how the economic cycle goes in this new decade. In any case, taxpayers should remember that the taxes the developers aren’t paying other taxpayers will have to offset.
All this is part of the vision for a total of $125 million in private development next to Polar Park.
Stadium-construction projects usually turn out well for rich team owners and associated developers, but generally not – at least economically -- for the general taxpaying public. That isn’t to say that having a baseball team in town won’t make plenty of people feel better, at least for a while, especially if the team wins more than it loses and spawns stars that head for the Major Leagues.]
For more information, please hit these links:
https://www.wbjournal.com/article/worcester-seeking-more-tax-breaks-for-woosox-related-development
https://www.golocalprov.com/news/leading-stadium-expert-blasts-worcester-for-polar-park-cost-overruns
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Field house and pump station built by the New Deal’s Works Progress Administration in Scituate, Mass., in 1938
But public projects can be immensely useful and profitable for the general public. Consider the bridges, roads, tunnels schools, post offices, parks, etc., built in the New Deal – a lot of them still serving the public. They were, in general, very well built. But America’s public infrastructure has been falling apart for decades, damaging our quality of life and making America less economically competitive. When he was running for president, Trump promised to start rebuilding our infrastructure. Instead, he pushed for big tax cuts for the rich.
A presidential candidate who can credibly promise to lead that rebuilding, with many well-paying jobs included, would have a very strong issue in this year’s election.
