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Sports Subsidies Generally a Bad Idea

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Wow.  These days not 10 minutes seems to go by without the story changing!

I was working on a website in opposition to tax increases to pay for the Carolina Panthers stadium upgrade costs, but today saw this in the Charlotte Observer.

Looks like tax increases may be off the table, but nonetheless, tax dollars are still ready to go.

Before things change again, I wanted to at the very least put out for public consumption a number of independent studies that show taxpayer funding for sports facilities is a mal investment.

My hope is that elected officials can read these and come to the realization that however the funding comes, if it ultimately is up to the taxpayers, the taxpayers lose.

The Federal Reserve Bank of St. Louis confirms NO ECONOMIC BENEFITS from sports arenas. Summary of the study can be found here.

Are New Stadiums Worth The Cost?, by Roger G. Noll, Professor of Economics at Stanford University, and Andrew Zimbalist, Professor of Economics at Smith College

Are Pro Sports Teams Worth It?, by Joseph Speirs, Fortune Magazine

The Nation: Stop The Subsidy-Sucking Sports Stadiums by Neil DeMause

Double Play, from the Independent Budget Office of New York City

No To Sports Stadium Madness, by Sol Stern, Senior Fellow, The Manhattan Institute

Public Teams, Private Profits, by D. Stanley Eitzen

Sports and Downtown Development Strategy: If You Build It, Will Jobs Come, from Journal of Urban Affairs

Stadium Subsidies Strike Out, by Lawrence W. Reed, President, Mackinac Center for Public Policy

Steer Clear of Stadium Madness, by Sol Stern.

Subsidizing Sports Stadiums: Is It Worth It?, by Joseph L. Bast, President, Heartland Institute

The Effect of Professional Sports on Earnings and Employment in US Cities, by Dennis Coates and Brad Humphreys, professors of Economics at the University of Maryland – Baltimore County

The Effect of Professional Sports on the Earnings of Individuals, by Dennis Coates and Brad Humphreys, professors of Economics at the University of Maryland – Baltimore County

The Folly of Stadium Mania, by David Friedman, in the Los Angeles Times

The Growth Effects of Sports Franchises, Stadia and Arenas, by Coates & Humphreys

Is There an Economic Rationale for Subsidizing Sports Stadiums?, by Robert A. Baade, Professor of Economics at Lake Forest College

Public Funded Fresno Stadium: Gross Overestimate Of Economic Benefits, Understated Economic Costs, from the Fresno Republican

Sports Pork: The Costly Relationship Between Major League Sports and Government, by Raymond J. Keating, author, columnist, and chief Economist of the Small Business Survival Committee

Sports Stadiums as “Wise Investments”: an Evaluation, by Dean V. Baim, Professor of Economics, Pepperdine University

The Stadium Gambit and Economic Development by Coates & Humphreys

The Stadium Shell Game, from Reader’s Digest

Stadiums, Professional Sports and Economic Development: Assessing the Reality, by Robert A. Baade, Professor of Economics at Lake Forest College

What Are The Benefits Of Hosting A Major League Sports Franchise, by Jordan Rappaport and Chad Wilkerson economists with The Federal Reserve Bank of Kansas City

The Worm Turns on Stadium Ripoffs, by Neil Pierce, syndicated columnist

Why Subsidize Sports?, by John Berthoud, Vice President, Alexis de Tocqueville Institute

Sports Stadium Madness: Why It Started, How To Stop It – Joseph L. Bast

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