Taxpayers profit from business-friendly laws
The village of Rosemont brings tens of millions of dollars in taxes to the Chicago region and the state of Illinois every year. In 2013, our village alone generated more than $85 million for our state. That money pays for roads, education and more from Chicago to Cairo.
How is a village like Rosemont able to generate such a windfall for Illinois? One way is by competing for entertainment acts and shows at the Rosemont Theatre, the Donald E. Stephens Convention Center and the Allstate Arena.
Rosemont competes against the likes of Las Vegas, Orlando and other heavy hitters to attract trade shows, concerts, sports events and more. We succeed over those cities and generate money for cash-strapped Illinois by working with entertainers and others to provide the optimal experience for them and their attendees. In fact, a significant portion of the $85 million in tax revenue that Rosemont generates for Illinois is derived from the shows that we fight to attract.
Garth Brooks, one of the most popular country music stars of all time, could have kicked off his concert tour in any state in this country. He decided to launch his first tour in 16 years in Rosemont breaking records with an estimated $12 million in gross ticket sales. The 183,535 people who attended the Garth Brooks shows came from all over the country and stayed in Illinois. They ate at our restaurants. They bought gas in Illinois. Not Indiana, not Florida. Illinois.
A set of shows like the Garth Brooks tour kickoff have a tremendous effect on the local economy, too. The village of Rosemont alone received $2 million from those shows. Likewise, Grant DePorter, CEO of Harry Caray's Italian Steakhouse which opened in 1999, has said that, "The 11 days that Garth Brooks was performing at the Allstate Arena were the busiest in the restaurant's history, beating all past sales records."
Much has been made about the incentives provided to Garth Brooks for appearing at the Allstate Arena. Incentives like this are the norm across the United States in the entertainment business and the details of these rebates are always kept private. The benefit of providing such incentives is multifold. Ticket prices are kept lower for concertgoers thereby boosting ticket sales. More concert attendees translates to more concession sales, more hotel lodgings and ultimately more tax dollars for the region and the State of Illinois.
The entertainment and convention world is extremely competitive. I know because Rosemont has been successfully competing for entertainment acts and conventions for decades. Publicly disclosing our contract negotiations would put Rosemont and Illinois at a competitive disadvantage. Some acts might write us off completely if they knew that anyone could see what is negotiated.
At their core, these shows and acts are businesses. Rosemont fights for their business, like we do any other industry. We want to be known as a business-friendly location, not someplace to avoid. Attempts to tamp down home rule in Rosemont and other municipalities that seek entertainment business would have a chilling effect on Illinois' economy and would threaten those communities' ability to govern most effectively.
Rosemont has a responsibility to taxpayers to create an environment that is good for business. That is where we excel. I also understand that business thrives in an environment of transparency. But transparency doesn't mean revealing the details of ongoing negotiations. You don't take the lid off the rice before it's cooked, and you don't show your playbook to the opposing team in the middle of the game.
It is my sincerest hope that Rosemont can continue to competitively attract shows and entertainment acts and their dollars to the state of Illinois while maintaining the public trust. It's good for business and it's good for government.
• Brad Stephens is mayor of Rosemont.