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Portland stands to experience a surge in economic development if we are chosen as a relocation city.
MLB would generate an estimated $433 million in revenues to the state over a 25-year period from taxes on
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players' salaries alone (based on an average payroll of $80 million). Another $53 million in taxes over that
same period would come from income taxes from the hundreds of jobs the new ballpark would create.
Additional visitors from out of state would increase revenues from hotel and airport taxes, and generally
increase tourism dollars statewide.
Portland would accrue more than 200 full-time jobs as the result of a team moving here. And more than 1,400 part-time jobs would be created to support stadium operations.
A new stadium would raise surrounding property values and spark economic development. The precedent has
been set elsewhere. Property in the surrounding area of Coors Field in Denver has jumped from $10/foot to
$80/foot since the opening of the stadium. In the first year of its operation, Baltimore's Camden Yards
pumped more than $52.8 million into that city's economy. Jacob's Field in Cleveland created more than 6,500
new jobs to the surrounding neighborhood. |
