Seattle Rental Car Companies Support Tax to Fund New Arena

A representative for Hertz and Avis says the two rental car companies are willing to submit to a permanent 1 percent rental car tax to help fund a new arena for the Seattle SuperSonics, the Seattle Post-Intelligencer reports.

The 1 percent rental car tax was levied in 1992 to help pay off debt incurred by renovations on another sports stadium, the Kingdome, which was demolished in 2000. The tax generates an estimated $2 million annually.

The Sonics' new ownership has threatened to move the team to Oklahoma City, where the ownership is based, if the team's KeyArena is not replaced with a state-of-the-art building. The team's lease at KeyArena ends in 2010.

The city of Seattle, however, recently passed Initiative 91, which stops the funding of sports and entertainment arenas with the use of tax-based public subsidies.

The Sonics are currently in preliminary talks with various industries, including the car rental and restaurant industries, to put together an arena-funding package for consideration by the state Legislature, according to the Seattle Post-Intelligencer.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Auto Manufacturers: Mobility Disruptors or Fleet Providers?

Maven’s Alex Keros shares insights into evolving smart mobility business models and new opportunities with fleet management.

What is Your Time Worth?

Personal observations of retail and travel transactions reveal just how much a consumer’s time is worth today, and how increasingly intolerant we are of inefficient transactions.

Safeguarding Your Business with Brokers

While the high-profile bankruptcy of Atlas Choice has left many car rental companies wary of working with brokers, rental companies can take steps to protect themselves and ensure a productive relationship.

Job Finder: Access Top Talent. Fill Key Positions.

>