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What you will hear : “The stadium will be an economic benefit to Fremont.” Source : Folks who have an economic interest in the stadium. The Reality : “..there.

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Presentation on theme: "What you will hear : “The stadium will be an economic benefit to Fremont.” Source : Folks who have an economic interest in the stadium. The Reality : “..there."— Presentation transcript:

1 What you will hear : “The stadium will be an economic benefit to Fremont.” Source : Folks who have an economic interest in the stadium. The Reality : “..there is no..... correlation between sports facility construction and economic development." Source: Thaddeus Herrick, The Wall Street Journal 21 June 2006

2 What you will hear : “Local newspapers will provide unbiased evaluation of a stadium proposals.” Source : What you and I were taught in school The Reality : “..the mainstream media in most of these cities is noticeably biased toward supporting publically financed stadiums." Rick Eckstein, Journal of Sport and Social Issues

3 What you will hear : “Economic studies produced for the city or on behalf of the developer will accurately forecast the future impact of a stadium.” Source : Various stadium proponents The Reality : “.. such promotional studies project future impact and almost inevitably adopt unrealistic assumptions regarding local value added...." John Siegfried and Andrew Zimbalist, Journal of Economic Perspectives

4 What you will hear : “Building the stadium will create construction job opportunities for Fremont residents.” Source : Fremont City Council The Reality : “…levels of employment in the construction industry were neither higher nor lower during the construction of these stadia…construction on these projects merely substituted for other construction projects ” Phillip A. Miller, University of Missouri

5 What you will hear : “The stadium will create other kinds of jobs for Fremont residents.” Source : Fremont City Council The Reality : “We also found that, in many local economies, wages AND EMPLOYMENT in the retail and services sectors have DROPPED because of professional sports…” Source : Dennis Coates, The Journal of the American Enterprise Institute

6 What you will hear : “Fremont businesses support a Stadium.” The Reality : “Fremont businesses have expressed opposition to a stadium. Businesses who have expressed concern about a stadium include Kohl’s, NUMMI, and Costco.”

7 What you will hear : “A stadium brings incremental revenue to our city.” The Reality : “Pro sports strikes have zero impact on host cities.... Those who would have gone to a game are taking their dates to dinner or the movies.... instead.” Source : Cait Murphy, Frank Rose CNN/Fortune Magazine


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