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Originally Posted by Dream Crusher
What do you mean debunked? The municipalities just runs the numbers and ascertain whether or not the project makes sense for them. It's not rocket science by any stretch of the imagination but it certainly doesn't surprise me that government employees often screw that up.
The city of Arlington is anticipating that they will pay off the bond for AT&T stadium 10 years early because they have received greater tax revenue than anticipated (sales tax, hotel occupancy tax, and car rental tax). This is despite some huge projects near the Stadium being cancelled due to the poor state of retail at the time.
And it's not like Arlington was a city on the rise prior to the Stadium being built. In large part it was a huge ****hole, an aging suburb on the decline.
Municipalities never run the numbers, the teams just pay off, er donate to the local politicians, and run out a fake economic report sold them by a whoring economist saying it's the best investment ever, but refuse to release the "data" behind the report. Then they run the vote through the city council or county commissioners so local voters don't have a say.
The truth is these concrete mausoleums are terrible investments. They are empty most of the year, the vast majority of its employees are part time minimum wagers, and the profits are spirited out of town by the millionaire players and billionaire owners. They make nothing, just provide entertainment and mostly zero sum at that diverting local money from one pocket to another.
Studies have shown a single Nordstroms provides more economic stimulus than an NFL stadium. A Nordstrom delivers actual physical goods that people need, its open every day for up to 12 hours a day, and it employees hundreds of people in middle class jobs year round.