paroxetine online usa no prescription canadian health care mall virus generic drug prices canada vs us imiquimod cream 5 buy buy calcium carbonate powder uk is it is itlegal to buy prescription drugs from india are ed drugs covered by insurance accutane name in mexico where to get propecia in uk over the counter prevacid vs prescription prevacid walmart pharmacy hours in canada viagara falls band nj problemas diabetes y disfuncion erectil benadryl online australia coreg tablets from buy azithromycin 250 mg pak tab sandoz intralesional triamcinolone alopecia areata can order pulmicort canada where to buy renagel online canada paroxetine by mail periactin drug in usa pharmacy fucidin h cream acne reviews what is wellbutrin sr 100mg mirapex sale what is crestor 20mg purchase ethionamide cheap periactin sale uk is renagel legal in uk can you get high off paroxetine hcl differin gel 0.1 buy all types coumadin pills american phenergan nexium 40 mg tablet price what is a pill called mobic prednisone prices at costco cleocin medication where to buy world football stats what are the side effects of zyprexa altace coupons augmentin 100mg cheep buy abana with pharmacy safe reglan buy cymbalta approved in uk trazodone cost walmart bentyl lawsuit purchasing lisinopril online prazosin 1 mg tablet what does hoodia do alli over counter diet pill lamisil tablets for jock itch best place to buy acticin in canada artane credit union opening times z pack antibiotics during pregnancy where do i bactrim in usa arimidex lawsuit there generic advair diskus tesco pharmacy slough opening times what is clomid drugs used for hoodia legal in england cialis soft where can i buy erexor for men in usa seroquel tablets can you buy promethazine over the counter in the uk meclizine over the counter walmart chloroquine where to get best place to buy nizoral in mexico frumil tablets dosage brand levitra over the couter buy actos online without a prescription l-tryptophan generic reviews med cab atarax blopress generic cheap costs gyne-lotrimin online uk get anabuse topamax over the counter india legal sell kamagra online buy viagra paypal account how to buy fml forte in london what type of infections does cipro treat is it legal to bring viagra into the uk buy antabuse online amazon amoxicillin trihydrate 500mg uses walmart generic prices prescriptions prograf online uk buy generic levitra plus online motrin in the uk now glucophage medicine children tricor 48 mg price claritin d price walmart erectile dysfunction drugs with the least side effects cialis 40 mg safe common side effects of lisinopril hydrochlorothiazide order finpecia without prescription buy keflex 200 didronel delivery uk acheter cytotec avortement best site get atarax what is clonidine hcl .1 mg used for what are the side effects of norvasc how to get premarin in australia where can i buy cardizem mg forzest brand positioning buy amoxil online no prescription generic inderal next day shipping information on zyprexa medication where is alligator alley restaurant xenical back order fluconazole for thrush dose levitra medicine order coreg online uk global stats counter elavil dosage cats cytotec comprar femara letrozole buy no prescription cialis side effects cialis vs viagra online medicine store in chennai vardenafil review revia order by phone cheap cost antibiotics online without www indiatvnews com aap ki adalat long term effects of accutane on women viagra canadian online raclet allegra for sale aspirin with no rx content marketing uk propecia side effects cure allies web canadian forces links voltaren retard 75mg tablets periactin shoppers drug mart zyban pharmacy how to take provera 5mg artane medication yasmin online purchase bupropion tablets 100 desyrel sublingual dosage what is nolvadex for men female cialis 100mg cheap is generic viagra soft effective my zenegra coupons buy levitra online overnight nice 1000 games play handless millionaire can order dulcolax canada topamax prices pharmacy buying aricept retin-a 0,025 non perscription countries sominex sold over counter mircette 40mg can you take flovent daily aygestin perth australia buyers of actoplus met canada is patanase better than astelin cost of paxil at walmart buy tetracycline mexican pharmacies tretinoin cream 0.025 uk order ortho tri cyclen cheap buy evecare new zealand online what quantity of aspirin is contained in most over the counter apirin products etodolac mrp generic lipitor ranbaxy amoxil overnight delivery non persciption propranolol buy tamoxifen canada estrogen prescription robaxin-750 pariet uses medication original methotrexate online pet allies show low az directions what does amitriptyline feel like buy exelon fast shipping 500 mg cheap zyvox combivent pharmacy can you snort gabapentin capsules asacol enema package insert best site to buy lanoxin cost of avapro 300 mg buy flonase hong kong nasal spray lady era pill shop discount code clozaril by mail order suhagra brands india brand brand viagra buy alli refill tablets uk ayurslim uk brand name ordering nimotop sildenafil citrate 100mg and dapoxetine 60mg elocon side effects ointment lowest price amitriptyline prevacid for infants does it work trazodone for sleep weight loss prescription medicine keftab from europe generic zestril 20 mg ponstel pills florida duetact ciplox oz tablets cialis soft online in canada mail order prazosin zovirax pill shop discount code acquistare cafergot in italia walgreens canada rd hwy 64 pliva 433 pill white buy over the counter chloramphenicol online buy dapoxetine online at canada pharmacy benicar on line no script effexor xr for purchase without a prescription buspar for anxiety attacks cost of zofran iv do i need a prescription for zovirax cream ranitidine hydrochloride tablets side effects comprar pyridium pela internet generic robaxin overnite shipping ampicillin tr 500 mg cap cytoxan overseas nizagara shipping overseas where to buy aspirin gum what is prednisone for dogs used for pfizer diflucan fluconazole wellbutrin sr order canada genuine viagra cheapest erexin-v tablets from buy top drugstore makeup products 2012 rumalaya online sales eli lilly cymbalta lawsuit all types clonidine pills purchase finpecia coumadin overnight pharmacy what is suhagra used for actonel once a month australia how to buy aricept glipizide for sale augmentin costco price glycomet medication kamagra soft over the couter amiloride hcl dose delivery buy generic abilify can you buy stromectol over counter valtrex without a prescription from us hong kong buy haldol online drugs compazine comprar buy online menosan generic viagra sublingual australia price ciprofloxacin side effects bnf cheap nolvadex uk coming off premarin side effects tinidazole dosage 250 mg buy micardis line minomycin to buy in england best price for real speman atorlip-20 discount celexa website pill identifier tool celebrex from usa pharmacy low price clozaril uk where can i purchase proventil zyban online kaufen viagra discount canada side effects of himcocid cyklokapron shelf life how much is my prescription without insurance elavil antidepressant side effects can you get rogaine 5 cardura canada head office chloromycetin overnight pharmacy mail order baby alligators premarin price in india 2 claritin pills buy dutasteride hair loss purchase lorazepam online no prescription can you order promethazine with codeine online augmentin 100mg best price for real female cialis cheap prescription buy zyprexa chloromycetin generic 2013 drugs comprar skelaxin portugal what is methocarbamol 400 mg printable coupons for voltaren gel prilosec online usa buy mobic online in usa what is sarafem used for cheap didronel pills buy minocin 80 mg online diclofenac potassium retail price buy synthroid online without rx where accutane canada gabapentin withdrawal symptoms pictures discount coupon for cymbalta i want to pay some strattera where to buy dilantin can you buy moduretic in ireland cialis import singapore how much will tamoxifen cost order erection packs 1 package bonus where to buy alli weight loss orlistat how long to use differin gel suhagra over the counter drugs cheap yasmin birth control australia can you buy lamisil online drugstore terbinafine sominex online pay paypal cheap xenical usa pilex dosage sarafem 10 mg reviews search engine optimisation tips voveran online meds what is mentat can you order aldactone ordering prescription medicines online paxil perth australia prednisone deltasone adverse effects buy lexapro 50 drugs like paxil how to get abana in australia buy nizagara from india tenormin online overnight shipping cheap generic venlor mg cabgolin order in the us best weight loss supplement for women over the counter diclofenaco sodico 50 mg dosis nin~os where can i order toradol anacin shortage canada tinidazole 1000mg arimidex tablets alcohol indian steel alliance advertisement max dose celebrex per day minomycin non perscription countries advair diskus on line in the uk buy uk kamagra oral jelly nitroglycerin drug class canadian online pharmacy using paypal what is cozaar que es lincocin con eucalipto ortho tri-cyclen generic name unisom generico online cheap vermox usa buy confido himalaya albendazole treatment how to order desyrel online trandate online overnight etodolac 300 mg tablet clozaril generic drug obtaining a viagra prescibtion cialis 5 mg daily effectiveness phone in order for amitriptyline purchase generic zyban amitriptyline without food cardura generic wikipedia drugs what states sell phenergan without a ptescription? what is the dosage for motrin for infants buy cytotec no prescription fast delivery buying augmentin ziter pharmacy windsor canada hours where do i arimidex in india can buy antibiotics online uk azithromycin buy zofran no prescription fast delivery where viagra professional revista palermo blanca online robaxin fast canada where can i get viagra today buy shatavari australia depakote phone orders casodex drug class acivir online canada hoodia over counter cipla pharmaceuticals products generic chloramphenicol safe zanaflex drugstore.com otc similar to flagyl nitroglycerin discounts codes what is hyzaar for how to get cheap prescriptions without insurance top 100 otc meds what does the drug phenergan do treatment tadapox uk next day delivery generic sarafem pmdd health canada rogaine 5 ordering silagra levitra discount im toradol shortage fda approved pharmacies aldactone noprescrition needed uk online pharmacy keppra xr generic reviews can bentyl be abused where to get bupron sr pct methotrexate mail order safe apcalis sx buy retin a micro gel 04 reviews glucophage no script buy nimotop in ireland overnight generic viagras nizoral online in usa acquistare lady era in italia radio ad viagara $5 viagra jelly 40mg cymbalta without food shuddha guggulu side effects uk celexa next day lotensin medicine online viagra from india forum tamoxifen overnight generic from fucidin generic for lipitor availability purchasing acai online tab fertomid 100mg what is aspirin yahoo internal medicine alliance tucker ga kikisu tribulus terrestris taking meclizine during pregnancy can you buy revatio men s sildenafil lisinopril discount card nizoral pharmacy order best place buy accutane online buying cleocin gel abilify shopping fincar medication hcg pharmacies in broward county order erection packs 11 online without baclofen drug store online danazol pharmacy order provera pills online in the usa cheap generic viagra 100mg generic benadryl safe names of pills that can get you high zovirax mist canada augmentin spain over counter how to buy yasmin diclofenac sodium importer online pharmacy kamagra chewable best prices buy prandin order prandin cheap cialis trial packs cheap amoxil usa pharmacy cozaar 100 review cytotec philippines order is colchicine available in india ponstel pharmacy order what is asthma attack buy ginseng in bulk suppliers of atacand in us strattera daily use reviews is canadian pharmacy for viagra a ripoff sarafem 5mg tablets generic wellbutrin problems npr how fast can you get pregnant while taking metformin free coupon for clonidine aspirin price increase citalopram hbr 20 mg generic prescription ranitidine order generic chloroquine cheap tofranil sale uk side effects of saw palmetto capsules buy erexin online thru paypals buy cardura 8 mg online grifulvin v purchase how to import baclofen where can i buy alligator meat in ohio abilify commercial narrator motilium from usa pharmacy united support systems western drug aceon chloromycetin to buy in england voveran sr online bestellen buying eldepryl using paypal kamagra gold generic name purchase levaquin 750 mg generic elavil pills purchase vermox in mexico keftab women buy health canada actos bladder cancer canadian atrovent tablet xeloda next day shipping buy frumil tablets ciprofloxacin 500 mg tablets information no rx pharmacy online med express pharmacy salisbury nc bystolic company lioresal echeck viagra pfizer wiki what is cialis tadalafil 20 mg used for purchase tetracycline viagra originally heart medication how to order femara online flomax pharmacy differin online meds where to buy cytotec pills generic glucophage manufacturers ethionamide buy online us buy famvir 15mg online isoptin tablets uk non persciption tetracycline how long does it take for proscar to work for bph best generic cialis prices what is cardizem cd flovent australia ciprofloxacino normon 500 mg efg prospecto amantadine no prescription lisinopril bonus pills coltivare il ginseng in italia order diovan tablets lasuna legal us what are the negative side effects of cialis buy chloramphenicol no prescription prescription drug atrovent pharmacies that have isoniazid over the counter substitute for keflex differin online without rx artane tablets uses what is keftab pills used for comprar myambutol portugal cheap keppra 100 mg what is ampicillin for no generic premarin levaquin discount price cheapest price xalatan buy antabuse online thru paypals how long does it take differin gel to work does generic propecia work as well farmacias venden alli mexico cost generic paxil without insurance canadian viagra online fedex carbozyne over counter uk xenical online bestellen schweiz fluoxetine 100mg cheep cleocin medication uses rhinocort results forum kamagra coupon code order trandate online uk how long does it take for proscar to leave the body how to take lotensin mg rhinocort aqua discount coupon where can i buy viagra in toronto what is cialis for women used for cialis professional sale online discount blood pressure medicine zestril can i buy viagra over the counter in thailand pills buy vermox us fallout wiki mentat albuterol sulfate inhalation solution buy online brand cialis birth control online australia nice guidelines donepezil pharmacy that sells artane buy genuine minipress uk buy synthroid online no perscription cheap isotretinoin online sinemet 40 mg pharmacy buy atacand from canada get best results using cialis feldene tablets side effects free viagra order online overnight buy ampicillin pills online can you buy mg betapace without buy cialis jelly from india lipitor 80 mg price philippines flomax results forum buy levitra professional 80 mg online para que se usa el zyprexa plavix 75mg indication biggest indian pharmaceutical companies where to buy remeron with amex how much is accutane in canada coming off zoloft crying cialis sale uk discount european pharmacy students association what does prevacid contain how can i get viagra today order wellbutrin from canada retin online order rumalaya without prescription canada elocon ointment during pregnancy flovent direct pharmacy differin generic available indian pharmacy minipress estrofem 2mg tablet cheap roxithromycin india where to buy promethazine and codeine cough syrup order albendazole on line usa how to order forzest online buy viagra sublingual 50 levitra plus to buy from europe brand viagra online canadian pharmacy approved coumadin generic cheap costs como comprar lamisil epivir-hbv cheap price doxazosin mg buy aspirin for chest pain dose antabuse generic wikipedia drugs india triamterene price acheter finpecia buy evista discount reglan cheap uk can take 2 unisom tablets effexor xr cheap uk pharmacy cheap cozaar 25mg
Home Pete Toms LWIB: Can Stadium Development Be Done With Reasonable Public Investment?

Like Shoot to Thrill - An AC/DC Tribute on Facebook!

An authentic tribute of AC/DC that covers the best of the Bon Scott era and the best of Brian Johnson's material

Who's Online?

We have 1211 guests online

Atom RSS

LWIB: Can Stadium Development Be Done With Reasonable Public Investment? PDF Print E-mail
User Rating: / 2
PoorBest 
Pete Toms Article Archive
Written by Pete Toms   
Monday, 14 September 2009 00:01

Last Week in Bizball by Pete Toms

LWIB, in San Jose began the always inevitable battle for public support which accompanies any proposal to invest public money in stadiums/arenas for professional sports franchises. The same debate that arose in the San Jose media last week concerning the benefits of the City of San Jose investing in a new ballpark to accommodate the Oakland A’s has played out in sizeable number of communities since the stadium building boom of the 1990’s. Professional sports franchises continue to receive public assistance in building their new homes but much has changed since the 1990’s when governments were much more generous toward such initiatives. The public appetite for such investments has diminished (in part) as large amounts of academic research and opinion opposed to the practice has filtered down to media and policy makers. This research has overwhelmingly concluded that investing public dollars in new stadia does not generate the economic benefits promised by new stadium advocates. More recently the tenor of the debate appears to be moderating. Some “sports economists” are now arguing that while public investments in new stadia remain of no benefit economically perhaps they remain a defensible investment as a “public good”. At the same time, stadium proponents appear to be more realistic and less verbose concerning their promises of the economic benefits that accompany the constructing of a new stadium.

On September 3rd the City of San Jose released an “economic study” touting the economic benefits to be realized from the construction of a new baseball stadium. Voter approval is necessary before the city can acquire additional real estate and commit funds for infrastructure improvements to support the new stadium. Eric Young reported for the San Francisco Business Times on the release of the “study”.

A new Major League Baseball stadium in downtown San Jose would create 1,000 new jobs and give the city an annual $130 million boost, according to an economic study released Thursday.

With a fully operational facility in 2014, the ballpark — designed to be the new home of the Oakland A’s — would create 1,000 new jobs paying wages of about $62 million, according to the report.

Critics of public partnerships with professional sports often refer to these commissioned “economic studies” as “advocacy studies” or “fantasy documents”. The recently released study commissioned by the City of San Jose was conducted by Conventions Sports and Leisure International. According to the CSL website, “Over the past 20 years we have worked with 75 percent of the major professional sports franchises or on projects related to those franchises.”

LWIB the San Jose media began to follow up on the release of the City of San Jose’s commissioned “economic study”. A number of “experts” were quoted in reports questioning the viability of the claims of future economic benefits made in the “study”. Tracy Seipel reported for the San Jose Mercury News, “Sports economists also say the city's analysis is overly optimistic on the stadium's projected number of jobs, the ripple effect on the local economy created by direct spending, and the impact of the teams' salaries in the area.” (Sports economists discredit the “direct spending” figures with the “substitution effect” argument. Money spent at the new stadium is money that otherwise would be spent elsewhere in the community. Multiplier effects cited in these documents are usually thought grossly exaggerated by the same economists). Ms. Seipel also reported that critics pointed out that the study had not accounted for land acquisition and infrastructure costs to be borne by the City.

As the public has become increasingly sceptical about the economic benefits of constructing a new stadium, governments and franchise owners have become more sophisticated in acquiring public dollars. The public share of “stadium construction” is often a relatively small amount of the final public contribution. New stadiums often benefit from being constructed in “entertainment districts”, allowing access to revenues from tourism taxes (“bed taxes”, car rentals), tax abatements, favourable development fees and tax increment financing (the public investment to be repaid via future property taxes collected from future development surrounding the new stadium). Although the franchise usually keeps all or most of the revenues from the new stadium, the stadium is owned by a quasi governmental body (often called a “stadium authority“) which allows the franchise owner to avoid property taxes. Financing is sometimes raised via tax exempt (cheaper) bonds sold by governments.

The debate over public investment in professional sports stadia has long been polarized. Grassroots critics both liberal and conservative view these investments as corporate welfare. The academics have long discredited the touted economic benefits. The advocates point to the Staples Centre, Camden Yards, Petco Park and Progressive Field as examples of new stadiums playing key roles in urban renewal. More recently, as franchise owners invest more of their own money and governments commit less, the proposed benefits trumpeted by advocates appeal more to community self esteem and less to promises of public economic gain. At the same time, some sports economists and industry observers are admitting that while these projects will not add to the public coffers they can be worthwhile public investments.

LWIB, Ballpark Digest reacted to the criticisms of the San Jose ballpark proposal.

What's really happening here is that the academic sports economists are living in an ivory tower. Is the ballpark the best use of the land? When you throw in every possibility -- like office and retail -- the answer is no. But is the ballpark the best possible use of the land given the present economic realities? No developer is lining up with development proposals for the site, so to argue the city would wait for a theoretical use of the land is a nonstarter. The office vacancy rate in San Jose and the rest of the Valley is very high, and it could be years before the existing space is filled, never mind create demand for a new office/retail complex. So, the real question -- and one ignored by the "sports economists" -- is whether a ballpark is a good use for the land given current economic conditions. And given the fact that someone is proposing a $500-million development project in this economy for an empty site in downtown San Jose, the answer has got to be yes.

Even Neal deMause, amongst the fiercest critics of investing public dollars in professional sports stadiums, admitted at his Field of Schemes blog that the San Jose proposal is a potentially sound public investment. Mr. deMause wrote in part, “…a new A's stadium could be the next Pac Bell Park, where public costs were actually kept low enough that the modest public benefits of a stadium were worth the subsidy; more than that, and it's just throwing money down a hole.”

Some of the sports economists appear to be mitigating their philosophical opposition to public investments in stadia for professional sports. Some believe that while there is no tangible economic benefit in these investments, there is an intangible benefit to the residents of these communities. In a recent Q&A with The New Yorker, the most high profile of the sports economists - Andrew Zimbalist - was quoted.

Arenas and stadiums, by themselves, cannot be expected to produce an economic benefit to the local community. It can’t be expected to increase the employment level in the community, and it can’t be expected to raise per capita income. And that’s a straightforward conclusion that comes from detailed econometric analysis that spans thirty to forty years. That doesn’t mean there can’t be a modest benefit in particular cases, though.

AND

Cities don’t build a public park because they expect it will bring in higher income; they build it because they think it’s good for the social and cultural fabric of their community. A city might look at a ballfield or an arena in the same way—if you can make a case that building a stadium will be economically neutral, you might want to go ahead and do that, because you think a team will provide a source of cohesion, identity, wholesome family entertainment.

Perhaps after twenty years of outlandish promises from stadium advocates and consistent objection from the sports economists a more reasoned debate has finally emerged. A new ballpark might not transform a city or provide stimulus (at least long term) to the local economy. Such arguments appear to have outlived their usefulness. And perhaps it is also time to admit that relatively modest levels of public investment in these stadiums is not entirely and uniformly wrong. Maybe a new ballpark or arena or football stadium is worthwhile just because a lot of people will enjoy it.


OTHER NEWS FROM THE BUSINESS OF SPORTS NETWORK

(THE BIZ OF FOOTBALL)

(THE BIZ OF HOCKEY)


Pete Toms is an author for the Business of Sports Network, most notably, The Biz of Baseball. He looks forward to your comments and can be contacted through The Biz of Baseball.

Don't forget to register and log in on The Biz of Baseball site to get updates via your in-box, and see information only logged in members can see.

Follow The Biz of Baseball on Twitter Twitter

 
 
Banner

Poll

Should MLB Force Jeffery Loria to Sell the Marlins?