Essay about New Stadium

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Introduction Over the past decade more than a dozen new stadiums have been built within the United States. A sports facility has potential to become a major source of revenue, venue for advertising, and brings about economic and social benefits to the community. The goal of a new facility is to increase the fan base, boost revenue, and increase a team’s competitiveness. For cities to reap the benefits of a new facility there must be support from the city, as well as, support from city officials. Building a new facility provides more jobs for the city, increases property value, and tourism. Our goal at Hale Yea, Inc. is the build a new basketball arena in the city of Bryan, TX, in order to, bring in a new basketball team to uplift the…show more content…
When constructing a new stadium, new workers must be hired, to include by not limited it, waiters, ticket takers, and security officers. Construction of a new stadium also increases attendance at night clubs, bars, retail shopping, lodging expenses, and car rental. In the economic impact lecture by Elizabeth Melton, she explains how proponents claim there are 4 ways that facility construction improves the local economy: (1) construction jobs to build the facility, (2) people who attend games or work for the team spend money by the stadium, (3) team attracts tourists and companies to the host city, further increasing spending and jobs, (4) snowball effect, increased local income causes still more new spending and job creation (Melton). Though it is difficult to put an exact dollar amount on the economic impact of a new stadium, estimates typically range between $50 million and $150 million ("Recent NFL Stadiums"). Since stadiums typically spur a great deal of economic growth, they can tend to be self-financing. Subsidies are offset by concessions ticket sales, property tax, and increased spending (Melton). Sources of Revenue Over the past decade sport industries have continually remolded, and revolutionized ways in which to earn revenue. After the industry boom of new stadiums during the 1990s, and early 2000s, managers and executive and becoming more creative at
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