Quote:
Originally Posted by Boz
HB356: Centrally Planning the Salt Lake City Economy
LibertasUtah.org
"... As we have often argued, the proper role of government is to protect our rights—not centrally manage the economy and incentivize businesses. While we would love to see a new hotel and convention center, we reject the notion that it cannot exist without tax credits; if such an institution is deemed profitable and beneficial, then private investors will support it. If not, government should not come to its rescue..."
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I disagree 100% with their position on the legislation, and their comparison the the "Red Zone" stores is an absolutely horrible, unrelated comparison.
They argue in there that the Proponents saying that the new Hotel will bring in more overall business is beside the point and saying that it might be true or not. Then in the next paragraph say that existing hotels will lose $105 million in the first 5 years. I love how they wave off one study as pointless and maybe true of false then spout opinions from their own study as facts.
It comes down to a few simply questions?
1) Does the Salt Palace need more space? yes
2) Does there need to be a large hotel built that is designated as a convention hotel, with either direct or adjacent access to the SP? Yes
3) Will the addition of more Salt Palace Space and a large hotel bring in additional large conventions? Yes (the SLCVB has already proven this with years of details on conventions lost)
4) Will these additional large conventions bring in more people than the new CCH can accommodate, resulting in additional room night in other hotels? Yes
5) Will the increase in business increase the overall taxes that are collected by the City, County and State? Yes
5) Will property value surrounding the new hotel increase, easily paying off the tax incentives offered? Yes
Sounds like a no brainier to me.
What I find ironic is that it's Grand and Little America that are the loudest opponents to this piece of legislation, yet they tried to use a legal government power to get the land they weren't able to acquire to use the entire block to build the Grand America. So it's ok for them to use a legal power of the government, even though they eventually lost, to get what they want at the possible expense of other hotels, but it's "just not right" if someone else is given that same advantage.