The Buffalo-based Public Accountability Initiative (PAI) has released a new report on Bass Pro's record of taxpayer-subsidized growth. The report shows that the company frequently fails to live up to its promises as an economic development anchor -- promises which were used to justify major public subsidies.
The report, titled "Fishing for Taxpayer Cash: Bass Pro's Record of Big-League Subsidies, Failed Promises, and the Consequences for Cities Across America," was co-authored by Andrew Stecker and Kevin Connor, both of PAI. It is available here: http://www.scribd.com/doc/32370256/Fishing-for-Taxpayer-Cash.
Among the findings: a Bass Pro-anchored mall in Cincinnati is 65% vacant and has been described as "post-apocalyptic" by visitors; one in Mesa, Arizona helped prompt a statewide ban on retail subsidies; and a shopping plaza in the shadow of a Bass Pro in Council Bluffs, IA was recently described by a local politician as an empty "shell of a building." Bass Pro-anchored projects have won over $500 million in taxpayer subsidies, despite the retailer's frequent failure to deliver on its promises of generating development and growth.
The report is intended to inform the choices of cities like Buffalo, which are considering subsidizing Bass Pro stores in order to generate economic growth, and is being distributed to cities across the country.
The Buffalo News reported on the report in June 2nd's paper. You can see that article here: http://www.buffalonews.com/2010/06/02/1068505/report-doubts-bass-pro-on-tax.htm
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