Detroit Today: Are tax incentives the best way to develop Detroit?
Henry Ford Health, Michigan State University and the Detroit Pistons’ development project in New Center is seeking $273 million in Detroit tax subsidies.
New Center is a commercial and residential district located approximately three miles north of downtown Detroit.
Henry Ford Health, Michigan State University and the Detroit Pistons’ development project in New Center is seeking $273 million in Detroit tax subsidies.
This is not a new trend when it comes to development in Detroit. But are tax incentives the best way to encourage residential and commercial development in the city?
James Tatum, director of Citizens Research Council, joined host Stephen Henderson on Detroit Today Tuesday to discuss Detroit’s ongoing relationship with tax abatement programs and who they really benefit.
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James Tatum is the director for the Detroit Bureau of the Citizens Research Council. He says it’s hard to know how tax incentives affect Detroit.
“The tax abatements don’t directly cost the city in a sense that cash leaves the city coffers,” said Tatum. “It’s more so that they lost out on revenue.”
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