Quote:
Originally Posted by Wormius
I am not keen on the deal as it stands. I also think it set a bad precedent for other private industries who try to use the same trickle down and intangible benefits argument. What would have been the harm if the City could have reached a deal where it actually recoups its entire contribution?
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Governments are not businesses - whether or not something 'recoups its entire costs' is not what they base their decisions on.
Other companies and industries will always try and get government support for their projects - that's the way of the world. But they aren't the hockey team, and like it or not, this is Canada. The hockey team occupies a particular place in our city that some random corporate entity never will.
The Bow was built as a public/private partnership. This is a public/private partnership. Those happen all the time. This isn't handing Amazon $7 billion in tax breaks because you want HQ2. It's a 50/50 split for a project that's key to the redevelopment of the Rivers District and the Stampede grounds as well.
Furthermore, most of the money spent on this project is going to stay right here. I don't see why you would need to hire very many people from outside Calgary to make this project work given the number of skilled workers who don't currently have a gig.