I think it can be a good investment for the government or city if a new venue allows for an attraction that would normally bypass the city. We know concerts go to Edmonton instead of Calgary because of the venue. My question would be how many events would need to be held to make it a benefit to invest. For the city itself one additional concert would put more money towards lodging, restaurants, c-train ridership etc.
I think everything needs to be taken into account as an overall economic impact rather then just the sport team playing there. It is apples and oranges but the San Diego Comic con estimated regional economic impact was around 168 million back in 2010 and estimated 180 million for 2011.
If it can be proven that the new venues can attract bands/sporting events that would not come to the current venues then I think it is reasonable investment for taxpayer money.
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