North Carolina’s stubborn intent to throw public dollars at cash-rich NASCAR confounds another observer. Columnist Barry Smith also reflects on the hotel-motel tax scheme that would fund the NASCAR Hall in Charlotte:
In this case, business travelers visiting one of Charlotte’s banks who have no interest in racing will be forced to pay for the hall of fame, should Charlotte ultimately land it. The same holds true for visitors going to Panthers games, Bobcats games or visiting Carowinds.
Shucks, parents taking their kids to UNC-Charlotte or one of the city’s other colleges could end up paying the fee also.
Additional costs for hotel accommodations means many families and travelers will have less money for other things.
And this is precisely the fact that cooked-up “economic impact” studies of such attractions always miss. At best, such deals re-direct existing entertainment spending; at worst they actively depress economic activity, leaving the community worse off than before.
But, hey, don’t let the facts confuse us.
