The Florida Department of Economic Opportunity has issued its long-awaited (well, for a couple of months, anyway) ruling on which of the four finalists for state sales-tax subsidies are to get priority, and the answer is: all of them!
The Florida Department of Economic Opportunity advised Jacksonville, Orlando, Daytona International Speedway and Sun Life Stadium that their applications met all “statutory criteria.” In a letter, the department also recommended that lawmakers could approve all four.
Daytona International Speedway and Sun Life Stadium are each seeking $3 million a year for 30 years for ongoing improvements to those facilities. Orlando has requested $2 million a year for three decades to help pay for a planned $110 million soccer stadium. Jacksonville, with its application supported by the NFL’s Jacksonville Jaguars, has asked for $1 million a year for three decades.
This is jaw-droppingly dumb, since the whole point of this process of having teams seeking state subsidies to submit standardized forms to a state agency was to come up with a ranking for who’d get first dibs on the money; instead, the state legislature will now have to decide who gets what, which is exactly as it would have been anyway. It’s also dumb because, as an analysis of past state sports subsidies found, Florida has only received 30 cents of return on each dollar spent on stadium and arena projects. And finally, it’s dumb because all four of these projects — renovations to the Jacksonville Jaguars and Miami Dolphins stadiums and to the Daytona Speedway, plus a new stadium for Orlando City S.C. — are already underway, meaning whatever economic benefit the state would get from them, it’ll happen regardless of whether the state decides to divert public money their way after the fact.
If there’s a bright side, it’s that the four sports entities have demanded $9 million a year in funding, and there’s only $7 million in the state’s available sales-tax fund, so the Joint Legislative Budget Commission will have to figure out somehow who’s going to see their subsidy demands trimmed. This is a bright side, however, only in the sense of “The bank just got robbed, but they ran out of money before the robbers’ bags were full.” Also, there’s nothing stopping the state from approving more money later, which means if these teams (and more) don’t get what they want this round, they can just come back for more. Congratulations, Florida — you appear to have just invented the first self-replenishing cat feeder of sports subsidies.