Those words were spoken by Missouri Governor Mike Parson about the agreement struck with Kansas to end some aspects of the economic incentives border war. It also sums up my feelings upon learning that the Kansas City Tax Increment Financing Commission voted against recommending a subsidy for another hotel downtown.
The city council may still approve the subsidies, which will require 9 of 13 votes to pass. As The Star noted, however,
The [Commission] vote reflects a growing skepticism about the value [of] local economic development subsidies. During his campaign earlier this year, new Mayor Quinton Lucas was frequently critical of incentives for new development, particularly for luxury projects or those in prospering areas like downtown.
We hope that common sense will again prevail and that city leaders will start saying no to more proposals to spend public money on private developments.
