Curt Schilling (formerly of the Red Sox, ahem) is now seeking a deal for his video game company, reportedly talking with Rhode Island to see what tax incentives might be provided.
His inspiration? The film tax credits which he saw in action in his home town.
Now, Curt’s got every right to get the best deal for his company but he might want to consider a few facts: 1) RI’s corporate tax rate is 9% while Massachusetts was 9.5% and is supposed to drop to 8.75% this year, then to 8% over the next few years, 2) RI’s personal income tax rate is progressive and rises pretty fast — it gets to 7% quickly and tops out at 9.9%.
Not all that appealing is it? But his actions are what you reap with a picking winners and losers approach to incentives. I’d rather see Massachusetts compete across the board for companies by broad-based initiatives and the best educated workforce, not case-by-case packages of incentives.