An initial economic analysis of building a new entertainment and sports complex in Sacramento confirms the Sacramento Metro Chamber’s long-standing belief: A properly located arena will create thousands of jobs and millions of dollars in economic benefits for the entire region.
“The Metro Chamber has long-held that a new entertainment and sports facility will be a huge job generator for our region,” said Matt Mahood, Metro Chamber president & CEO. “The Sacramento First Task Force’s “Threshold” report shows how—at a time when unemployment is so high—building and running the complex will create 4,095 new jobs. I say let’s get it started!”
Residents in similar sized cities across the county currently enjoy the benefits of successful entertainment and sports complexes, Mahood said. “Our study missions to Charlotte, Indianapolis and Denver found arenas can be located where they serve as catalytic economic development projects. They create not only thousands of jobs, but millions of dollars in economic benefits. And over time, additional investment and positive economic impact follows.”
“Closer to home, you only have to go as far as San Jose to see how the HP Pavilion, that opened 15years ago, was constructed on a site specifically selected to help boost the downtown area,” Mahood added. “The report shows that HP Pavilion annually provides the city of San Jose with direct fiscal benefits of $5.4 million and about 5,000 full-time equivalent jobs.” Mahood encourages the Sacramento First Task Force and others to visit San Jose to see for themselves how that area—a once blighted, neglected neighborhood—is now hustling and bustling each and every day.
“Sacramentans deserve and need an entertainment and sports complex. This kind of civic amenity also offers many unquantifiable benefits that contribute to and stimulate regional economic vitality. It will make our region an attractive business center, increase property values and generate money through tourism. What’s not to like about that?”
Mahood concluded, saying, “I think the report’s findings are significant and that it should make Sacramento residents more comfortable with supporting the construction of a new facility.”