Econ-Assign-4

Apr 30th, 2015
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Strayer University
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Professional sports teams help to bring exposure to a city or region. That exposure does not always lead to spurring economic growth. Like in all business decisions there are benefits and opportunity cost that the cities that house professional sports franchises must consider when deciding whether or not to publicly finance building or remodeling a new sports arena. It is those cost and benefits that we will be looking at through the rest of this paper.

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Floyd L. RodgersAssignment 4: Subsidizing Professional SportsUniversity of Strayer, Miramar CampusDr. Bernadette WestProfessional sports teams help to bring exposure to a city or region. That exposure does not always lead to spurring economic growth. Like in all business decisions there are benefits and opportunity cost that the cities that house professional sports franchises must consider when deciding whether or not to publicly finance building or remodeling a new sports arena. It is those cost and benefits that we will be looking at through the rest of this paper.The benefits when considering subsidizing a franchise can be broken down into two categories: Economic Benefits and quality of life benefits. The economic benefits would include job creation, as the new venue would put many people back to work. From general labor to account executives, jobs would be created to account for the complete operation of running a successful franchise. The creation of jobs would not only be seen in the arena but the surrounding businesses as well such as hotel and restaurants that will need the additional personnel to accommodate the new influx of consumers. Because of the number of jobs created the influx of jobs creation the personal income of the community will increase. The city or region will receive tax revenue increases because of the increased spending of consumers in or around the stadium. (Wilhelm, 2008)There are a few quality of life benefits that come w

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