Economists have studied stadium deals for decades.
They are generally accepted to be financial losers for local and state governments who invest and/or give up tax revenues in the stadium deals. It's not even close to break even in most cases, or it wasn't when I was looking into the topic ~20 years ago (and stadium construction costs have far outpaced broader inflation since then, so can't imagine the economics have improved).
The cache of having major professional sports is what drives the deals, not the direct economic return (and by direct I'm including the tax revenue from parking, hotels, restaurants, etc). I have no idea if any of those economists attempted to quantify the economic impact the cache has on things like attracting corporations in HQ relocations and the like, but I can't believe it would move the needle much at all.
(Edited to correct grammatical mistake) [Post edited by Upwind of uva at 03/31/2022 12:26PM]
|
(
In response to this post by Brewing_Hokie)
Posted: 03/31/2022 at 12:23PM