The aging of stadiums and the constant development of newer facilities means that with the passage of just a decade, the returns on such attractions as sports attendance, convention attendance and construction employment have diminished or disappeared entirely. These patterns help to explain the observation made by Coates & Humphrey's (2004), who indicate that "professional sports generally have little, if any, positive effect on a city's economy. The net economic impact of professional sports in Washington, D.C., and the 36 other cities that hosted professional sports teams over nearly 30 years, was a reduction in real per capita income over the entire metropolitan area." (Coates & Humphreys, p. 1)
Naturally, none of this is intended to dissuade the courtship...
Without question, there are intangible benefits related to a city's identity, its local culture and its opportunities for the realization of civic unity. And of course, there are real economic benefits to bringing a multi-billion dollar enterprise to one's locality. However, the latter of these benefits cannot be realized when such private enterprises are subsidized by public moneys.
Works Cited:
Bast, J.L. (1998). No. 85 Sports Stadium Madness: Why It Started, How to Stop It. Heartland Policy Study.
Coates, D. & Humphreys, B.R. (2004). Caught Stealing: Debunking the Economic Case for D.C. Baseball. CATO Institute.
Gotham Gazette. (2010). Football Stadiums. Citizens Union…
