The Wall Street Journal ran an article on Sunday that began like this:
MEMPHIS, Tenn.—The Memphis City Council will vote this month to complete new tax breaks for Graceland to fund a $100 million expansion, a peace offering in a nearly two-year war that included threats of Elvis’s estate leaving his adopted hometown.
I don’t know precisely what the rest of the article says, because the Journal will only let me read it if I give them either $187.20 for a year’s subscription or $1 plus my credit card number so they can charge me $187.20 when I forget to cancel, neither of which is appealing. Fortunately, though, the uncopyrightable nature of information has led to lots of other news sites reporting on the Journal’s reporting, which means we can learn things like this for significantly less than $187.20:
“We had an offer ten days ago to move Graceland to Japan,” Joel Weinshanker, managing director of Elvis Presley Enterprises, said. “We had two offers to move to the Middle East and one [to move] to China. They offered us more profit than we could ever make in Memphis.”
It should go without saying — oh, I so hope it should go without saying — that Graceland is a place (“the place Elvis called home,” as Graceland’s own website touts it, complete with “the gardens where he found peace”), and you can’t move a place, though obviously you can move all the stuff that’s in the place. Whether people will still go visit the stuff if the stuff isn’t in the place is an open question, but apparently not one that Memphis wanted to consider too hard, because city officials approved giving Graceland several briefcases full of money in order not to go through with moving overseas.
How much money precisely? Slate reports that Graceland would get “a bigger cut of city and county property and sales tax revenues for a new expansion project,” and that the expansion project would cost $100 million, but that the new property tax kickbacks would “add up to between $194 million and $269 million in reduced taxes for Graceland.” And that the local economic development corporation president “stressed the expansion would not have happened without those incentives, and would be a net gain for the city and county on tax revenue alone.”
So to recap: A tourist attraction based around Elvis Presley’s home in Memphis threatened to move to a place that Elvis never lived, until the local government agreed to give them at least $194 million to pay for a $100 million expansion, which the local economic chief claims will leave the city and county turning a profit. 2019, people.