The Times Picayune carried two stories dated June 11 and June 13, the former titled, "Mega Movie Studio Proposed For Algiers" and the latter titled, "Art Group Investing Millions In New Orleans." It is a tale of one investment, the latter that believes in giving back to the community and paying their own way; and the former of tax breaks for companies seeking Corporate Welfare.
Movie producer Scott Niemeyer wants to build a $63.5 million movie production campus in Algiers according to staff writer Katherine Sayre's article. Niemeyer said he will seek local tax incentives for the project and that he will also seek to raise $49.5 million in foreign investment and the remaining of $14 million he is confident about securing financing.
Niemeyer's company is a for profit business and evidently Algiers has every thing needed except the financing. In other words, tax breaks are the only draw to bring his studio to Algiers. It is a prime example of why economic conditions have been hard on the middle class. Paying taxes like every one else makes common sense and has no relationship for business to make a profit. (Warren Buffet already put that fairy tale to rest.)
The June 13 article by staff writer Doug MacCash was about The Joan Mitchell Foundation, a wealthy art philanthropy that decided to make New Orleans the site of a "artist retreat" where promising painters and sculptors from across the country can commune, honing their skills. Their total investment in the New Orleans economy will be $20 million including other related projects. And how about the following that was reported in the article.
The Joan Mitchell Foundation dosen't compete for state, federal or private funds. Nor does the foundation solicit donations. In fact the foundation doesn't even accept gifts. And the multi-structured company is paying property tax to boot. In other words every thing the foundation has spent in New Orleans has come out of its own deep, paint-stained pockets. (Editors note: What a refreshing attitude.)
The philanthropy is the better investment for the New Orleans economy, its people and for city government. It will bring people here from all over and many would probably stay and practice their skills. This type of art would be better for every day life than the movie artist. They are also paying taxes and are not asking for special tax treatment. The city and state need more business that pays its own way.
If tax breaks are a component of selling the city or state to influence a business to locate here and that business is deemed to have a long profitable stay, then why not execute an iron clad agreement for the business to pay back all tax breaks and incentives? Is there any one out there that thinks that is unfair?
Remember it is business who want nothing to do with government regulations or over sight, but they love those government tax breaks and incentives with no strings attached. This writer believes the city and state should seek out more businesses like the "Foundation" who do not mind paying their fair share of taxes and whose business will contribute to the quality of life for the city, state, the people and for the arts and science.
This commentary written by John Lucia.
