Traditionally, I'm opposed to tax breaks as it is merely an indicator that the whole system needs to be fixed. giving tax breaks to some developers and not others could be potentially very damaging to the city as it will only make the pay to play culture worse. It's too late for the Cira andone can only hope they will at least get some outside tenants. I'd very much hate to see Twoers Perrin go as they provide the kind of jobs that Wharton grads might want and we don;t ahve enough of those. However, like with comast, I think it is much more effective if you give them with the idea that jobs wil be moved here thus reducing the tax burden on the rest of us. soemthign really needs to be done on a broad scale to break this cycle.
http://www.philly.com/mld/philly/business/7703638.htm
thoughts?[/quote]

eldondre: I notice the "potentially" in your post...interesting---and good points. I share your hope (though I'm more optimistic) that they will generate NEW employment in Phila (that's ore than just attracting outsiders)
AND
Comcast is going to GROW, not just shift existing employees...and that 17th and JFKsite could be a huge nationally-known location with one of the biggest cable and entertainment content companies in the world located right here and growing and buying companies (like Disney??!!!) and bringing them here, etc.
EXCITING potential!

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I hope not. Likewise, I have a love/hate relationship with Comcast. they are expensive but provide good service. The problem with banking on them is theri profits are heavily dependent on their broadband subscriber growth. the Tech field changes quickly and if they are not ahead of changes, they will run into trouble. They have an advantage in that they are not hindered by the same regulations as the Bells. Likewise, the Bell's control virtually all of the backbone and are thus the gatekeepers to the internet for potential comptetitors which is, in large part, why there has not been as many Broadband ISP's as dialup. At any rate, thre is a lot of unused fiber and if competitive firms get a hold of it...there will be an increase in competition in this sector. At any rate, it is important to have homegrown smaller businesses that may someday be the next comcast or Vanguard.

Partners in Philadlephia Law firms may make all their $$ w/o taxes from the city or state.

How?

By moving to the cira centre (KOZ), partners in businesses established as partnerships (not corporations) get something like a 15 year tax break...yeah that means no city or state taxes for them.

Why is it the the city makes so many concessions for rich folks who don't need the extra money?

Reps from Dechert L.L.P. and Woodcock Washburn L.L.P. said that they were would move a substantial amount of operations out of the city, and that these tax benefits might make them stay. They also point to the fact that moving out to the burbs would have also given them major tax benefits.

This is the problem....

Once you make consessions for one firm or one business, all the others flex their "we're thinking about moving" muscle too.

Ultimately the few businesses that anchor the city have us by the balls, how can we correct this? If you don't make the concessions, they threaten to leave, if you do, everyone tries to "cut a deal".

http://www.philly.com/mld/inquirer/n...nt/7774773.htm

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Desperately needed tax reform so that its cheaper for all businesses operating in the city.

One of the few decent lawmakers we have in city hall, Michael Nutter, has submitted tax reform bills based on the tax reform commission's recommendations. His bills include the elimination of the business privilege tax by 2014 and reduction of the wage tax for residents and non-residents to 3.25% by 2015. Every Philadelphian should flood city hall with e-mails, letters, and faxes, demanding that they pass these bills and FINALLY modernize our tax system.

e_myk, who do we need to contact?

HallWatch.Org allows you to e-mail the entire city council or just certain members. I think Philly.gov also has a way to e-mail Mayor Street and the council.

Sorry. Its not Philly.gov its PHILA.GOV, the official City of Philadelphia website.

I'm all for shouting about tax reform---Brett Mandell of the Controller's office wa son the commission and he is looking for supporters who will help finance an effort to press for the tax reform---I recommend you contact hiim, too.

That said---Mayor Street isn;t buying any tax reductions, and he figures that he already has at least one vote (last Nov) that won't make him budge on that...he has also locked up City Council, especially with Brian O'Neill---the loyal oppostion, ...so screaming won't help.

WilReynolds et al.:

Eventually people are going to have to understand that it makes no difference whether we think someone needs more money or not.
The fact is, phila is NOT competitive---taxes and regulatory burdens, lack of new quality office space and high costs (read: unions and other costs)

Everyone lashes out at Dechert and Wooodcock---they are EXPANDING ---did you know that?? --- IN the city----
Would it be better for the city if they did what AAA and Roher Asset Management just announced----(or 1000s of other companies did) and move out of the city??? Try looking at this without conspiratorial glasses!

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