Quote:
Originally Posted by URY914
And the rich get richer...........
How the NFL Fleeces Taxpayers - Gregg Easterbrook - The Atlantic
"In NFL city after NFL city, this pattern is repeated. CenturyLink Field, where the Seattle Seahawks play, opened in 2002, with Washington State taxpayers providing $390 million of the $560 million construction cost. The Seahawks, owned by Paul Allen, one of the richest people in the world, pay the state about $1 million annually in rent in return for most of the revenue from ticket sales, concessions, parking, and broadcasting (all told, perhaps $200 million a year). Average people are taxed to fund Allen’s private-jet lifestyle." |
In addition to the sea-chickens that stadium is also used by the
Washington state cougars, The seattle sounders, various supercross and monster truck events, home construction expos, trade shows, concerts, etc
How much revenue is generated by all those people who attend all those events?
How many people work at those events, earning money and paying taxes?
People who go to those events also buy gas at the local station, buy food at the local restuarants, etc.
Tourism is a cash cow.
They spend money and that revenue promotes the economy as well as generates tax revenue, which offsets some if not all the cost to the city of that stadium.
People who work at those events also earn money which they spend and contribute to the economy and city coffers.
in many cases building a new sporting facility can also spur a wave of urban renewal, turning blighted downtown into a yuppy paradise complete with townhomes, yuppy cafes, starbux, etc (which is not necesasarily a good thing).
I wouldn't be surprised if there is some occasional corruption where the gumbint O'fficials brother-in-laws get their pockets lined and I vote against such a deal whenever I get the chance, but it isn't as one-sided as it seems on the surface.
if all the numbers were broke down and analyzed it's probably a win-win.