Bye Bye Georgia Dome… Hello Super Bowl

In a recent article by Ron Stephens, public funding will be what makes the Atlanta Falcons a new home. With Georgia being one of the hottest tourist attractions in the United States, hotels are a booming source of revenue. This is why $300 million dollars of hotel and motel taxes will be used to build a new billion dollar stadium. While the Atlanta Falcons already have a stadium to play at, the state of Atlanta believes by having a modern facility that is competitive, flexible and functional, they will be able to host marquee events as well as enjoy the economic benefits. However, people ask the question “why should the public invest $300  in a stadium for the falcons”, and it was answered “you’re looking at it backwards, the Falcons are investing $700 million in a stadium for Georgia. The stadium will be an asset to the state and will generate economic benefits long after the public investment is recouped”.

The document in this link http://cbsminnesota.files.wordpress.com/2011/12/nfl-funding-summary-12-2-11.pdf , shows the private money spent on stadiums and the public. Most of the people building the stadiums see the investment as a great economic benefit which will help the public in the long run. I believe this is true because the stadium will add more than 4,500 to the states economy as well as $400 million in economic impact during construction. The article went on to explain how having a modern stadium will bring the opportunity to host huge events such as the super bowl or the world cup. Bringing in an audience from one of those events to Georgia will be a huge revenue builder for the states economy. I believe in this certain situation, using public funding is making a good opportunity into a great investment.

 

 

 

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