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Naysayers: little evidence new stadiums help economy

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The Tampa Tribune

Published: December 21, 2007

"Although the absolute numbers seem large and impressive, they are small compared with the existing tax revenues and local economy." - Dennis Coates and Brad Humphreys, Cato Institute, "The Stadium Gambit and Local Economic Development"

"Most stadium employees work part time at very low wages and earn a small fraction of team revenues. Thus, substituting spending on sports for other recreational spending ... reduces the total number of jobs, and replaces full-time jobs with low-wage, part-time jobs." - Andrew Zimbalist and Roger G. Noll, Brookings Institution, "Sports, Jobs & Taxes: Are New Stadiums Worth The Cost?"

"Unless you believe that in order to go to games

people are reducing their savings accounts ...

then this is just money they would have spent

on some other activity. That's the 'substitute effect'

in a nutshell."

- Dennis Coates, economist

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