C.C. Elebash says,
Reference Charlotte Crane’s article in your March 15 internet issue. Ms. Crane quotes the glowing economic impact claims of the manager of the new Pensacola baseball team.
In fact, almost all independent experts find that minor league sports teams have little or no positive economic impact.
“Sports economists have long argued that publicly financed stadiums are a waste of taxpayer money. And they have the data to prove it.” (Mark Yost in a Wall Street Journal article dated July 16, 2008, entitled “If You Build It, the Jobs Won’t Come”.)
“Virtually every independent economic study, including one by the Florida Senate in 2005, has shown that publicly funded sports stadiums are a rotten deal for taxpayers.” Carl Hiaasen, Miami Herald, syndicated column in Pensacola News-Journal, January 12, 2010.
“The supposed economic stimulus of sports stadiums is a myth that has been so thoroughly debunked by economists — a group famous for their penchant to disagree — that a recent survey of the American Economic Association found that 85 percent of its members favored eliminating government subsidies of professional sports franchises.” J.C. Bradbury, Atlanta Journal Constitution, September 9, 2011
Pensacola is losing population and has high poverty rates. Sadly, it is betting its economic future on a $52 million baseball complex.