Public funding for stadiums, what to do what to do…

In the state of Minnesota a professional baseball team, the St. Paul Saints, is looking forward to developing a brand new stadium in the heart of St. Paul. Their recent stadium is about 30 years old with sewage, piping and many other issues that make it reasonable for a new stadium to be constructed.  Local high school and college sports teams use the old stadium to this day, so to have a new one built it would not only benefit for the St. Paul Saints, but for many other baseball teams in the St. Paul area. The new stadium is proposing a Bonding Bill of 27,000,000 dollars that will begin construction in 2014. If the bill gets passed, it is said that the stadium will create up to 21,000 jobs, positive change for the entire neighborhood as well as local shops and stores in the area, and it will build on the economic vitality of the city. Previous invests such as the light rail and the union depot has produced positive change and if the city were to invest in the bonding bill, it would establish the cities vibrant and viral attributes. All this money would be generated by tax payer money and the governor as well as  the St. Paul commerce of city agree that it will produce a positive change with their city.

This discussion is related to our class because it deals with financial situations in us pro sport. 213 billion dollars is generated annually in the sport industry and we know that sports play a big part in public spending. The problems that are generated in sport are in small and large markets. With this being in St. Paul, it deals with a small market that needs something to spark up the sport industry. Once this new stadium is built it will generate more attendance at games, more media coverage resulting in a larger profit. The video that I am attaching to this blog explains the topic I am discussing, how and why it will improve the overall cities well being.

http://www.youtube.com/watch?v=FZxOabI3cc8

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