Bristol, Conn. may seem like a strange home for a media titan like ESPN, but the network's satisfaction with its location makes perfect sense: They take very good care of one another. As the New York Times reports, the state cuts the network some pretty huge breaks:
With nearly 100 million households paying about $5.54 a month for ESPN, regardless of whether they watch it, the network takes in more than $6 billion a year in subscriber fees alone. Still, ESPN has received about $260 million in state tax breaks and credits over the past 12 years, according to a New York Times analysis of public records. That includes $84.7 million in development tax credits because of a film and digital media program, as well as savings of about $15 million a year since the network successfully lobbied the state for a tax code change in 2000.
There's no way this type of giving can occur without complaints from those who allege ESPN has succeeded in winning the attention of Hartford, the state capital, due to its "ability to communicate its needs effectively to the state’s decision makers." As the Times points out, ESPN is the state's "most celebrated brand," as well as a huge job source. It keeps the economy flowing nicely, so the state treats it like a favorite child.
It's an even trade.
[via New York Times]