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Tim Lee: Braves Stadium a Good Investment

In all, Cobb will reportedly spend $17.9 million a year on the stadium, for 30 years.

Courtesy www.homeofthebraves.com
Courtesy www.homeofthebraves.com

Cobb Commission Chairman Tim Lee says bringing the Atlanta Braves to the county will produce more money than property owners will spend on it.

That’s according to new projections from property and sales tax revenues from the stadium and mixed-use development as reported by The Atlanta Journal-Constitution.

Lee has indicated that the Cumberland-area stadium, proposed to be open before the 2017 season, will generate $4.8 million in sales and property taxes in 2018. Add in another $7.8 million in the club’s private development of retail, offices and a hotel and it adds up to $4 million more than the $8.6 million coming in annually from Cobb-wide property tax revenue.

In all, Cobb will reportedly spend $17.9 million a year on the stadium, for 30 years. 

See more from the attached WSB TV video and from the AJC here

Brian May 20, 2014 at 02:18 AM
I'm glad we have commissioners that understand what investment is.
Ira May 20, 2014 at 06:31 AM
This move of the Braves is a very positive event for the residents of Cobb County. I agree Brian, our commissioners have done a wonderful job on this.
Octo Slash May 20, 2014 at 08:29 AM
God I hope the tea party doesn't dominate the 'demographic'. They're decent, honest, hardworking and they love their country. They fight for lower taxes, smaller government, and more accountability from their elected public servants. What a gaggle of monsters, that tea party.
Richard "the Equalizer" Pellegrino May 23, 2014 at 11:50 AM
The Citizens for Governmental Transparence is the most diverse coalition in the history of Cobb (and perhaps the country) composed of right, left & middle; dem, repub, libertarian, independent; liberal & conservative; black/white/brown--Tea Party & SCLC & Progressive Dems, etc, etc--you name it and we have them).
Richard "the Equalizer" Pellegrino May 23, 2014 at 11:57 AM
Victor Matheson, an economics professor at the College of the Holy Cross in Worcester, Mass., has studied the impacts of mega-events such as the World Cup and Olympics and found them lacking, economically speaking. Matheson: What’s happened over the last 25 years is that economists not associated with the leagues or local chambers of commerce — and I’m one of these — will look at any economic variable we can get our hands on. We try to look at things like GDP, personal income, taxable sales, employment or unemployment, hotel occupancy. We try to see if the presence of mega-events, and whether the presence of new stadiums, of new franchises, actually causes a discernible bump in the amount of economic activity. By and large, these studies find that the economic impact associated with sporting events is either zero or very small, or not discernibly different from zero. As a rule of thumb, an economist like me would say this: Take whatever (economic impact figures) the supporters are telling you, move the decimal point one place to the left, and that’s a pretty good estimate. The economic impact is a fraction of what’s claimed, and if the economic impact is a fraction of what is claimed, then the amount of public subsidy that’s justified putting into facilities like this is probably a fraction of what’s being asked for.

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