Quote:
Originally Posted by Bill Bumface
Everyone is worried about concerts skipping Calgary.
Isn't a concert just a way of exporting Calgary money out of the city?
I assume most concerts make far more than they cost to put on, and are a net outflow of money from the city.
Attracting concerts is good from a quality of life standpoint, but I would be shocked if they are economically beneficial for the city.
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This is the thing that blows my mind about these debates. There have been numerous studies that show that cities generally don't recoup the costs associated with new arenas by the time the next arena is built, yet people still trot out the economic benefits argument. Yeah it's great if the local businesses see a boost but unless the city raises taxes on said businesses, you're going to see a reduction in the services the city provides.