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Originally Posted by Ozy_Flame
Personally I think those funds could have gone to serve Albertans in far more important areas of the province, including healthcare resources, lab services, social assistance programs, environmental stewardship, infrastructure upgrades and service accessibility, development of emerging industries, arts and culture programs that need more funding, and other areas of need.
That said, the announcement has been made, and only time will tell if the investment was worth it to Albertans as whole.
I'm of the opinion that if provincial dollars goes towards something, it has to benefit the majority of Albertans. I just don't see that being the case this particular project.
We always harp on Rogers Place in Edmonton, but at least Calgarians and the rest of Albertans didn't have to pay for it. It was done between the City and Katz Group, and whether you agree with it or not, both organizations have Edmonton-first skin in the game. If you didn't live there, you don't have to worry about it.
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I think that is absolutely fair. However on the selfish side, living in Calgary, I am happy "I" get the benefit of the provincial money vs Edmonton.
The province also had an unexpected 10 BILLION surplus due to oil prices in 2022. The provincial contribution is 3% of that surplus
When we have an unexpected surplus I am more inclined to be "ok" with spending on some nice things - Similar to getting a bonus at work
(Ignoring the fact we run deficits most years and can/should use the funds to pay that down since no one ever likes paying for debt vs spending more)
Should Edmonton get $300 million for something as well? Probably. Should other cities get some allocation of "fun" funds? Probably.
Now the city portion of taxes I think is a different question. This is an investment in the city that will make the city better, but at a large cost and subsidizing a private entity.
The reality is that if you want to attract or keep a sports team you will be subsidizing a private enterprise by building abn arena. Whether we like it or not, that is the state of North America. The Flames were NEVER building their own arena no matter how much people want them too.
It's similar to giving tax breaks, free leases, etc to get corporation headquarters to move to a city. It is corporate welfare. But you are competing with other cities, who are willing to do the same thing.
Sports teams and Companies that create jobs are in high demand. When you are in high demand you have the leverage.
Side Question - Does anyone know approx how much tax revenue does the city and province recoup from the project on business and personal income tax? This money is all being used to hire companies or individuals to do the work, who in turn pay their employees, etc. How much of the Provincial and City spending on these expenses is generally returned in income type taxes (Goes for any city/provincial project)