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Originally Posted by Regorium
So what businesses has the Saddledome created?
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Bit of a non-starter with the Dome being on Stampede grounds
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The problem with businesses built around a stadium is the complete lack of traffic on days when there's no event going on. It also sterilizes the entire area around it because of the need for gigantic parking lots. The arena itself is isolated and doesn't draw tourists. People don't just lounge near the Saddledome on a weekend (compared to the pathways, for example).
The general consensus from every study basically says that the arena itself does not create any wealth from new businesses.
The billion dollars out of a plane example is basically saying you get a 1x multiplier (you invest 1 billion, you gain 1 billion of benefit). A billion dollars for an arena has generally shown to be less than that - especially when considering opportunity cost.
On the other hand, as I've posted in the last couple posts, there are emotional/social reasons for keeping the flames in town that has value as well. I just do not accept the economic argument at all.
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These issues apply more when the arena is somewhat isolated. The whole idea of a downtown location is the ability for people to access by walking and/or transit. That facilitates more opportunity for sundry development like restaurants.
Downtown development begets downtown residential growth, which begets more development.