Gary FineoutNew reports are showing that taxpayers are paying more to help Florida’s professional sports franchises and the film industry than the state gets in return.
State legislators in 2013 ordered auditors and economists to analyze the millions spent by the state on subsidies for businesses.
A series of reports issued this month looked at a long list of programs including money used by pro teams to help build or renovate stadiums.
In three years taxpayers have paid out $48 million to help professional sports teams but the investment has resulted in a gain of $14.2 million for the state.
Incentive programs for the film and television industry also have not produced a windfall. Legislators are expected to revamp that program during the annual session that starts in March.
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Republished with permission of The Associated Press.
