NASHVILLE – Today, the Beacon Center of Tennessee released its first full-length mini-documentary showing corporate welfare’s negative impact on small business owners.
The documentary features the stories of two Memphis furniture store owners who have never received incentives, while their competitor Ikea got almost $10 million in corporate welfare. This documentary comes on the heels of Ikea announcing a new store in Nashville with no reported incentive package.
This film gives the audience a look at the real cost of tax incentive deals and corporate handouts, and shows that while they may help a select few, they disproportionately hurt small business owners and taxpayers. The film also features nationally renowned columnist and University of Tennessee Law Professor Glenn Reynolds, more commonly known as “Instapundit.”
The mini-documentary will be submitted to film festivals and will be featured in screenings across the state beginning this fall.
Beacon CEO Justin Owen stated, “When a company gets a tax incentive package, all you hear about are the benefits to the company and all the supposed jobs it will create. This documentary shows the other side of the story by focusing on the small business owners who are harmed by these taxpayer-funded handouts. We believe in a free market system where all businesses pay low taxes, not just a select few corporations with connections.”
Beacon spokesman Mark Cunningham went on to note, “This is an extremely powerful documentary that will even have cheerleaders of corporate welfare rethinking their positions. The purpose of this documentary is to show that there is more than one side of these supposed “win-win” corporate welfare deals, and in factthese deals hurt substantially more people than they help.