This week’s IGM Economic Experts Panel statements:
A) When local governments compete by offering subsidies to a firm that is willing to relocate, and shopping across multiple alternative areas, the firm typically captures most of value that is created via the relocation.
B) A federal prohibition against states and municipalities offering tax subsidies to attract specific businesses that are shopping across multiple areas to relocate would be welfare improving for the average taxpayer.
Keyword: professional sports teams
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This week’s IGM Economic Experts Panel statement:
Providing state and local subsidies to build stadiums for professional sports teams is likely to cost the relevant taxpayers more than any local economic benefits that are generated.
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