The Effects of Sports Teams and Stadiums on Cities
What if a tax increase came to a city because of a sports team, would it be alright? Of course not, right? Well, consider being told as a tax payer and being told it will help the economy of city to build a stadium. However, a tax increase is never highly looked upon, and large companies sell extraordinary economic growth, and cannot produce the promise.
Area political leaders, local community heads as well as owners of professional sports franchise sometimes claim that a pro sports stadium and teams are vital sources of positive economic growth in urban areas. Even though most of the stadiums and franchises supposedly donate a whole lot of money for providing new jobs, and to also provide the justification for millions of dollars ranging in the hundreds for public subsidies for the building of an assortment of new pro sports teams in the U.S. over the past ten years. Even with the outrage, some numbers crunchers have found no evidence of a positive economic impact of professional sports teams and facilities on urban economies "It's a zero-sum game," Rolnick said. "In fact, it can be a negative-sum game.”
First of all the stadiums and the teams always seem to be a great contender for positive economic development jobs focusing on helping the economic growth of a city. However, this is different from other economic improvement devices like tax credit, sports stadiums, soccer pi...
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...the citizens of the city socially. It will provide a great night life, as well as other entertainment venues that can be brought in for use of the stadium. However to sell a stadium in a city by claiming economic benefits involves many risks, it will most likely not benefit the city and its people to have a sports team in your city.
References
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"Economic Development. (From the Library)." Government Finance Review 17.6 (Dec 2001): 58(1). General OneFile. Gale. Apollo Library. 19 May 2008 ..
Siegfried, J., & Zimbalist, A. (2000). The economics of sports facilities and their communities. The Journal of Economic Perspectives, , 95-114.
International Development and the Social Sciences, pp. 259-290. University of California Press,. Rostow, W.W. (1960) “The Stages of Economic Growth: A Non-Communist Manifesto.” pp.
Income for the above would be approximately proportional to the number of people in the stadium.
Abstract: The Stadium construction boom continues, and taxpayers are being forced to pay for new high tech stadiums they don’t want. These new stadiums create only part-time jobs. Stadiums bring money in exclusively for professional leagues and not the communities. The teams are turning public money into private profit. Professional leagues are becoming extremely wealthy at the taxpayers expense. The publicly-funded stadium obsession must be put to a stop before athletes and coaches become even greedier. New stadiums being built hurt public schools, and send a message to children that leisure activities are more important than basic education. Public money needs to be used to for more important services that would benefit the local economy. Stadiums do not help the economy or save struggling towns. There are no net benefits from single purpose stadiums, and therefore the stadium obsessions must be put to a stop.
New York City has thousands of alluring attractions. Their sports stadiums draw millions of fans every year. New York has a storied history and these venues tell much of that story. However, there are more fun things to do at these places than just catch a ballgame. Before you head out to watch a ballgame, you can always check for interesting attractions on TopView.
...port. As it now stands, they are as good as disenfranchised- a vast number of the taxpaying public who will never set foot inside these stadiums and arenas” (as cited in Jarvie, 2012).
Author Unknown (1994). The Federal Reserve System: Purposes and Functions (5th ed.) Published by Library of Congress
World Bank (2005). Economic Growth in the 1990s: Learning from a Decade of Reform. World Bank, Washington, DC.
The local economy benefits from a major professional sports team that benefits from different sources. a local sports team benefits from audience tickets, selling sporting goods like(hats, jerseys, ext.) They also benefit from the concession stand to sell (hot dogs, beer, popcorn, peanuts)also selling meals.they also benefit when sports fans travel. Another big reason they benefit is when players get paid
Throughout this essay I will focus on the design and development of stadiums from the beginning of the 20th century until the present day.
While sports for the spectators are merely entertainment, the economics of the industry are what drives businesses to become involved. Sports have become more of a business entity rather than an entertainment industry due to the strong economic perception of the over all industry. There are several instances in which economics may contribute to the effect on the sports industry, such as: the success of a team, the price of a ticket, the amount of money an athlete will make, and the amount of profit a team will make. The success of an...
In today’s professional sports landscape, it seems as though a new “state-of-the-art” stadium is being constructed for teams every year. Teams want their stadiums to stand out among the competition in an attempt to attract fans, star free-agents, and sponsors. Now, these types of stadiums, like AT&T Stadium in Arlington, Texas, are easily surpassing the billion dollar mark in total cost. AT&T Stadium’s building cost was $1.2 billion (Associated Press, 2013). Many of these massive projects receive a substantial amount of public funding, but skeptics argue that these stadiums actually are not economically beneficial to the public that helped fund them, therefore are not wise investments. One publicly funded stadium that has proven to be a wise
Sports are one of the most profitable industries in the world. Everyone wants to get their hands on a piece of the action. Those individuals and industries that spend hundreds of millions of dollars on these sports teams are hoping to make a profit, but it may be an indirect profit. It could be a profit for the sports club, or it could be a promotion for another organization (i.e. Rupert Murdoch, FOX). The economics involved with sports have drastically changed over the last ten years.
There are at least four different research perspectives about the relationship between development and economic growth. Firstly, economic growth is the basis for social development. Secondly, economic growth and social development are not necessarily linked. Thirdly, both economic growth and social development are not basic causes by each other, but they depend on interaction. Fourthly, social development is the prerequisite for economic growth (Mazumdar. 1...
McMichael, Philip, ed 2012. Development and Social Change: A Global Perspective, 5th ed. London: Sage Publications, Inc.