deerayfan072 wrote:Right, but again there is no new tax so there would be no effect on the taxpayers and there would not be anything else there if they dont make the stadium because it is the Rays ST field right now. The whole area is going to be redone with a new shopping center done by a new developer, a park, and a bunch of other things. I just can't see how having something there rather than not will not add to the city.
This issue has been studied dozens and dozens of times over the past 2-3 decades. If you are familiar with the concept of opportunity cost from economics, the issue is simple. At best these types of efforts redistribute money around a region or across different types of entertainment. What Tampa gains, will be money that would have otherwise have been spent in Tampa, the Tampa suburbs or nearby regions, but on different forms of entertainment. People will spend more on baseball, but less on movies.
More importantly, however, the question is bang for the buck or opportunity cost. There are a large number of other types of investments that could be made besides building a baseball stadium. The return on the best of the alternative investments is the opportunity cost. By spending the money on baseball, Tampa loses the opportunity to spend it on investing in these alternatives. What does the evidence say about that? What it says quite clearly is that baseball stadiums do not rank very well compared to the other types of investments. Tampa actually makes less money than they could have, because their are better investment opportunities than baseball.
So, the research clearly shows that, at best, stadiums and the development around them simply redistribute cash around a region. More likely, they simply represent a mediocre to bad investment decision. There are far better ways to generate economic growth than investing in sports stadiums.