[renny]

http://www.law.du.edu/documents/spor...pring-2011.pdf

A paper done on the economic impacts of new stadiums.

It should also be noted that many new stadiums and arenas are built simply as replacement facilities for teams that are already located in a city.

Replacing a sports venue does not produce growth in the local economy, but generally maintains the status quo on economic activities.

Opponents also point out that the multipliers, which are used in every study to determine the direct result of money spent on sports on the local economy, overestimate the impact that professional sports has on an economy because they do not properly differentiate between net and gross spending or the effects that taxes have on a community

One economic scholar noted that if the new facility is incorporated within a “complete local redevelopment plan,” including housing and stores, then the new stadium might be beneficial to the local economy

Officials go to the taxpayers and ask for public funding for new projects, assuring them that new jobs will result. However, as fiscal impact studies show, this is often the exception and not the rule. Taxpayers usually do not get a positive return on their investment