Monday, December 19, 2005

Build It On Your Own Dime

According to an article in the Seattle Times, a track developer wants to build a NASCAR speedway in Kitsap County (about 70 miles northeast of Aberdeen).
"ISC plans to ask state legislators to pledge $166 million in bonds to pay for almost half of the proposed $345 million track. The money to repay the bonds would come from new sales taxes on items ISC says race fans would buy. In addition, ISC wants to use a ticket tax to pay for about 4 percent of the track costs."
The article goes on to underscore that many state officials are wary of the projected economic impact of the speedway and are less than confident that the projected tax revenue would retire the bond.

From my standpoint, speaking as a former sports nut, I really don't care how large or small the projected economic impact is on the surrounding area. I don't care how many fans the developer thinks they can attract to a potential two major races per year. None of this should matter.

If ISC thinks this is a viable location AND they are able meet the various state and local building requirements, then they should build the facility WITH THEIR OWN MONEY. They will own the speedway and they are the ones who will earn the profits (or losses). Why should the taxpaying public subsidize their for-profit scheme?

The ONLY way I would support the expenditure of ANY public dollars is if the Green Bay Packers model was followed. This NFL football team is owned by the people of the City of Green Bay. Since the people own the team, it makes since to use their money -- taxpayer dollars -- to help support it.

2 comments:

  1. Oh but think of all those union jobs that might be created!

    ReplyDelete
  2. Why do you assume the jobs created would be union jobs? Have you researched this company to see if they usually hire union workers? Most mega-corporations find ways around paying their workers a fair wage, so why do you assume THIS corporation would be any different?

    By the way JUstaDoG, have you noticed that you can leave comments on this blog completely unedited? You can write just about anything you want -- unlike YOUR blog which screens, filters and surreptitiously edits other people's comments.

    The Rambling Taoist encourages a FREE-FLOW dialogue, not a sterile monologue.

    ReplyDelete

Comments are unmoderated, so you can write whatever you want. We may respond...or we may not. It depends on the mood and preferences of the specific author of the post. Ta-Wan generally responds in a timely manner. Trey responds some of the time and Scott rarely replies (due to limited internet access). You can be assured that all comments are read by this blog's two administrators: Ta-Wan & Trey.