Building private stadiums with public money is a stupid idea. We should stop doing it.
Miscellaneous Heathen
Hold to the now, the here, through which all future plunges to the past.
Building private stadiums with public money is a stupid idea. We should stop doing it.
There are spill over benefits this article does not address. For instance, the very same CVM model can be applied and quantified to surrounding area development. Many cities use these stadiums to reclaim and re-plan derelict wards and neighborhoods. This is development through socialism if we just measure the subsidies to ballparks. However, measure the propensity for developers to improve and build around such venues and the taxes and income generated from these developments and the equation starts to level.
Houston is a perfect case study for this with Minute Maid, the Toyota Center,and BBVA Park, though Reliant certainly has not brought neighborhood improvements. However, go east of Downtown and there is no denying the redevelopment effects that the grossly subsidized area is undergoing. Juxtapose the towers going up in the other part of downtown which are primarily funded by private enterprise; Calpine, Chevron, Heinz… I believe the argument stated that the bucket of beer bought by one person does not build business is bullshit. I would say that the tailgate alone at Reliant center would keep several businesses afloat, like BBQ suppliers, grocery stores, liquor stores, automotive shops, stripper pole manufacturing, and tattoo parlors, gold chain/fugazzi diamond kiosks, Spencer’s/dream merchant :)
LOL @ “Stripper pole manufacturing”.
My understanding is that the broad model just doesn’t justify building these things with public money, even when all these other things are taken into account. I’m not convinced the ballpark is why the east side of downtown is better now than it was 20 years ago; I think part of it is that that’s where the develop-able land was.