4 ms·

Wonder if this applies to cities that subsidize stadiums too? Are they worse off financially?

• enkid 4y ago
  It seems like public subsidies for stadiums doesn't add as much economic activity as similar investments. https://econreview.berkeley.edu/the-economics-of-sports-stadiums-does-public-financing-of-sports-stadiums-create-local-economic-growth-or-just-help-billionaires-improve-their-profit-margin/ https://econreview.berkeley.edu/the-economics-of-sports-stad...
• mkl95 4y ago
  Cities claim to subsidize stadiums as an investment. However data doesn't usually back up those claims. https://en.wikipedia.org/wiki/Stadium_subsidy#Criticisms https://en.wikipedia.org/wiki/Stadium_subsidy#Criticisms
• deleted 4y ago
  [deleted]
• the88doctor 4y ago
  As a couple others have mentioned, this is a different analysis, but the answer is that generally localities that subsidize stadiums do not see a good ROI. Local residents typically end up paying the bill through e.g. a slightly higher sales tax. Corollary: If you want to pay less local taxes, don't live in a city that has a major league sports team.
  • ceejayoz 4y ago
    > Corollary: If you want to pay less local taxes, don't live in a city that has a major league sports team. Or a state. Here in NY we’re chucking hundreds of millions at the Bills. https://www.politico.com/news/2022/03/28/buffalo-bills-stadium-new-york-taxpayers-850m-00020872 https://www.politico.com/news/2022/03/28/buffalo-bills-stadi...