Benefit to the community... only within the inner city where the new sports building is built.
This kind of thing can revitalize an inner city -- bringing people outside the city limits inside to spend money, prop up new restaurants, hotels, etc.
Now, in the long run, this can make the inner city more appealing to businesses looking for a city structure office location.
But it all depends on so many factors. Maybe the team sucks constantly and has trouble selling tickets. Maybe the only businesses that pop up are strip clubs and sports bars that release drunks into the streets. Maybe the businesses that are attracted in are unethical or become too large so that the community finds itself entirely dependent on the company doing well. It's a gamble.
But for some cities, it's pretty much a given that it will increase tourism and spending.
Did something similar in Minneapolis. It helped, but once you cross into a certain area, property taxes triple. This is why I don't a condo north of I-94 :P
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This kind of thing can revitalize an inner city -- bringing people outside the city limits inside to spend money, prop up new restaurants, hotels, etc.
Now, in the long run, this can make the inner city more appealing to businesses looking for a city structure office location.
But it all depends on so many factors. Maybe the team sucks constantly and has trouble selling tickets. Maybe the only businesses that pop up are strip clubs and sports bars that release drunks into the streets. Maybe the businesses that are attracted in are unethical or become too large so that the community finds itself entirely dependent on the company doing well. It's a gamble.
But for some cities, it's pretty much a given that it will increase tourism and spending.
Did something similar in Minneapolis. It helped, but once you cross into a certain area, property taxes triple. This is why I don't a condo north of I-94 :P