Fiscal Notes: Paying for Texas Convention Centers

(AUSTIN) — In the August issue of Fiscal Notes, released today, the Comptroller’s office looks at the complex economics of convention centers, a common yet expensive strategy for local economic development.

“A convention center is a big investment, and most never turn a profit,” Texas Comptroller Glenn Hegar said. “There’s constant pressure to keep convention centers up to date, with more exhibition space, more hotels and entertainment options, luxurious appointments and the latest electronic features. State and local governments generally foot the bill, despite some indications that the market for these facilities may be saturated.”

The August issue of Fiscal Notes also looks at Texas’ sales tax holidays — when they occur, what’s exempt and how much these tax breaks save Texas taxpayers. The back-to-school sales tax holiday is quickly approaching, and we also have energy and water conservation and emergency preparation sales tax holidays.

Fiscal Notes is available online and can be received by subscribing via the Comptroller’s website.

Fiscal Notes helps promote and further explain the Comptroller’s constitutional responsibility to monitor the state’s economy and estimate state government revenues. It has been published since 1975, featuring in-depth analysis concerning state finances and original research by subject-matter experts in the Comptroller’s office.