The New York Times takes a look at the millions of dollars in tax breaks ESPN gets to remain headquartered in Connecticut. The network, based in Bristol, is described as “a shining success story for Connecticut, in terms of the state’s early support of an upstart through its development into an international powerhouse”:
ESPN is hardly needy. 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.
For [Connecticut Governor Dannel] Malloy and other public officials in Connecticut, the conventional wisdom is that any business with ESPN is good business. After all, ESPN is Connecticut’s most celebrated brand and a homegrown success story, employing more than 4,000 workers in the state.