Economics 101

JKool · 12-10-2004, 12:06 PM

Ok, someone help me out with this.

The new stuff from the state says that new stadiums generate little to no economic impact, right?

Well, unless I'm understanding it wrong, and I probably am, that seems pretty obvious to me. The stadium itself generates very little revenue - other than advertising, ticket sales, employment of service staff, construction (at the outset), and some odd jobs here and there, what else can a stadium do to impact the community.

However, isn't this a little narrow minded. The impact of a national team is not just the impact of a new stadium. It includes all the players, the tourism factor, the advertising the state can do, all the run off business that benefit from a near by stadium (or maybe that is included in the study), and so on. I guess, what I'm getting at here, is this: does anyone understand how this cost/benefit is done and what factors are included in the impact of a stadium?

PS - I know that this has been discussed at some length here, but I could find the old threads to dig up, so apologies if this is just a rehash, but I am quite interested to hear.

PPS - Don't people think this could just be a bargaining chip for the state rather than a horribly bad sign?

12-10-2004, 12:06 PM	#1
JKool 1000 Posts + Join Date: Nov 2003 Location: Madison, WI Posts: 2,423	Economics 101 Ok, someone help me out with this. The new stuff from the state says that new stadiums generate little to no economic impact, right? Well, unless I'm understanding it wrong, and I probably am, that seems pretty obvious to me. The stadium itself generates very little revenue - other than advertising, ticket sales, employment of service staff, construction (at the outset), and some odd jobs here and there, what else can a stadium do to impact the community. However, isn't this a little narrow minded. The impact of a national team is not just the impact of a new stadium. It includes all the players, the tourism factor, the advertising the state can do, all the run off business that benefit from a near by stadium (or maybe that is included in the study), and so on. I guess, what I'm getting at here, is this: does anyone understand how this cost/benefit is done and what factors are included in the impact of a stadium? PS - I know that this has been discussed at some length here, but I could find the old threads to dig up, so apologies if this is just a rehash, but I am quite interested to hear. PPS - Don't people think this could just be a bargaining chip for the state rather than a horribly bad sign?