There's been a lot of research on this and the overwhelming conclusion is that spending on sports stadiums is a huge waste of money. Hochul has a lot of support upstate so I imagine she's doing this to fend off a possible primary challenge by Cuomo or whatever.It probably doesn't include other associated costs like increased police on game nights, increased road wear and rear, adding roads/lanes to accomodate increased volume a few times per year, etc... My guess is that putting in greenspace and investing the saved money would be a much better ROI for everyone involved.
More than $418 million of the state's $600 million share will come from a delayed casino-related payment from the Seneca Nation, the governor said late Tuesday. Erie County will pay $250 million toward the project.
The payment from the Seneca Nation covers a share of revenue over five years from three of the tribe's western New York casinos. The tribe stopped payments in 2017, saying its obligation to share revenue with the state and localities had expired.
The Seneca Nation Council ended the yearslong payment dispute with the state this week by authorizing the transfer of $565 million that had been held in escrow.
"These funds were generated in western New York, and I am directing the state's share, which is more than $418 million, to the new Buffalo Bills stadium," Hochul said in a release. "This will ensure the Bills remain in New York state and support 10,000 construction jobs."
Under the deal proposed by Hochul, New York state and Erie County would be allowed to hold some events at the stadium when the Bills aren't using it, though they will be required to use the Bills' authorized vendor to sell any tickets.
The Bills will have to pay an annual rent of $900,000 that will go into the capital improvement fund.
yea, sorry, I was a bit fast and loose with my terminology. I did mean residents of the affected state.Even more annoying is it's not the locals footing the bill, it's the entire state and in New York State that mostly means downstate is footing the bill.
I'm all for helping upstate economically develop as it's a really depressed region but I want my tax dollars to go to something useful, not a fucking football stadium for a billionaire.
A lot of times it's from taxes on hotels and rental cars, which is also bullshit "tax the people that get no say."It's bullshit to have the locals foot the bill for this. 100% bullshit, each and every place it happens.
An expression of truth you can’t understand. Of course you might really enjoy going to a state owned tax payer funded colosseum where all manner of porn stars perform for crowds of people. Maybe they could be put on by political parties to attract voters by the magnitude of the spectacle.What the fuck did I just read?
Agreed. Businesses already get to deduct everything to the point they somehow look negative while making money hand over fist. Individuals can't even write of true necessities for the most part. Why are we making workers pay for that shit?I'm against any tax payer funding for stadiums or businesses, it always is a losing proposition, just look at foxconn in WI, that was a total disaster for the area.
The answer is essentially 'never'. Stadiums are just giant money pits and subsidies for rich people.Well. the state should get considerable state income tax revenue from players/coaches salaries I am sure these folks are in the top income tax bracket and the salary cap seems always be increasing. I am sure additional income tax revenue goes to the state from those who operate/maintain the stadium as well. Probably get substantial sales tax revenue from food/drinks sold on gamedays too. I wonder how long it takes for the state to recoup that $$
Come on, gas light me some more. I'm really enjoying it.An expression of truth you can’t understand. Of course you might really enjoy going to a state owned tax payer funded colosseum where all manner of porn stars perform for crowds of people. Maybe they could be put on by political parties to attract voters by the magnitude of the spectacle.
Personally, I would prefer cities to build arenas where they could exchange matches where local volunteers could go to rape and beat each other to death with clubs.
Self knowledge isn’t for the faint hearted. Why inner need does being a sport fan satisfy?
The answer is essentially 'never'. Stadiums are just giant money pits and subsidies for rich people.
Sports, Jobs, & Taxes: Are New Stadiums Worth the Cost? | Brookings
Brookings Review article by Roger G. Noll and Andrew Zimbalist (Summer 1997)www.brookings.edu
Stadiums generate little new spending, they mostly just transfer entertainment spending from other sources. So you get tax money from selling food and drinks, but you would have gotten the same tax money from that person spending their money at some other entertainment venue.
But they only get built because people prefer to indulge themselves rather than boycott professional sports and end the problem. Sports fans are a lot like NYMBYs. They won't vote to end state subsidies of sports arenas. You can still enjoy Muhammad Ali killing his brain on YouTube.The answer is essentially 'never'. Stadiums are just giant money pits and subsidies for rich people.
Sports, Jobs, & Taxes: Are New Stadiums Worth the Cost? | Brookings
Brookings Review article by Roger G. Noll and Andrew Zimbalist (Summer 1997)www.brookings.edu
Stadiums generate little new spending, they mostly just transfer entertainment spending from other sources. So you get tax money from selling food and drinks, but you would have gotten the same tax money from that person spending their money at some other entertainment venue.
It's funded by a special hotel tax, so at least it's the tourists who are paying and not Nevadans. Mark Davis is a bit of a special case because almost his entire net worth is from Raiders ownership. Unlike most major sports owners, he's too cash poor to self-finance a new stadium; so he found a growing city willing to do it for prestige reasons. That doesn't mean I support what Las Vegas did, but it's far less onerous than the largess from NYS.The Raiders got a shit ton of taxpayer money to move to Vegas.
I happen to reside in the western NY and part of the story the news is relaying is that this proposed new stadium will not only host Bills games but will be suited for many other various events (concerts, an area inside for weddings, and other similar events that could be best described as convention center type events) I am sure there is some value in having an NFL team that may make the area more appealing in so far as attracting other businesses as well.
I'm sure in the very short term, its probably not a good investment ... I guess it depends how long it takes the state to recoup the $$
Why not build a giant retraining center for the homeless, including accommodations, to teach life skills, and create teams of skilled artisans that can build new housing throughout the city and beyond from start to finish, including the manufacture of building materials.I happen to reside in the western NY and part of the story the news is relaying is that this proposed new stadium will not only host Bills games but will be suited for many other various events (concerts, an area inside for weddings, and other similar events that could be best described as convention center type events) I am sure there is some value in having an NFL team that may make the area more appealing in so far as attracting other businesses as well.
I'm sure in the very short term, its probably not a good investment ... I guess it depends how long it takes the state to recoup the $$
Would that make good TV to sell beer ads?Why not build a giant retraining center for the homeless, including accommodations, to teach life skills, and create teams of skilled artisans that can build new housing throughout the city and beyond from start to finish, including the manufacture of building materials.
I live in Nevada. I remember that grift very well.It's funded by a special hotel tax, so at least it's the tourists who are paying and not Nevadans. Mark Davis is a bit of a special case because almost his entire net worth is from Raiders ownership. Unlike most major sports owners, he's too cash poor to self-finance a new stadium; so he found a growing city willing to do it for prestige reasons. That doesn't mean I support what Las Vegas did, but it's far less onerous than the largess from NYS.
On the West coast, new venues are never publicly funded. Voters just won't stand for it, and that's partly a reflection that we aren't as rabid as sports fans as other regions. Even if NYS had to do a lot to keep the Bills from leaving, $850M+ is way too large a number. The Pegulas are far too rich to be getting this much welfare from the state.
I guess not but if it were to happen it would make me feel higher than any beer could achieve. I don't think anybody can be truly happy in a world where others are in misery.Would that make good TV to sell beer ads?
It likely won't get any more of those other events than the current stadium. Not that many events need 70-100k seats.I happen to reside in the western NY and part of the story the news is relaying is that this proposed new stadium will not only host Bills games but will be suited for many other various events (concerts, an area inside for weddings, and other similar events that could be best described as convention center type events) I am sure there is some value in having an NFL team that may make the area more appealing in so far as attracting other businesses as well.
I'm sure in the very short term, its probably not a good investment ... I guess it depends how long it takes the state to recoup the $$
People who take pride in external identifications like sport teams are suckers for external manipulation by cunning psychopaths who can easily read peoples' weaknesses. Only the awakening of proper self love can prevent this. The first hurdle to awakening is the terrible horror of who one is asleep. Not for the fainthearted as I said.I live in Nevada. I remember that grift very well.
A 4 day special session was held to rubber stamp a proposal to waste $750 million of public funds on a football stadium. Legislators who voted against taxing businesses with revenues over $4 million per year to fund a national worst education system lined up to raise taxes to give to a purported billionaire.
"But it's a tax on tourism so Nevadans won't be paying it!"
Except they do. The reality is that while most of the population and tourism exists in Southern Nevada all of the State offices exist in Northern Nevada. People from the north travel to the south all the time. They pay the taxes too. It's not just a tax on tourism.
That also ignores opportunity cost. That $750 million could few been spent on something else (education maybe?). It was a bad deal pushed through with no real consideration because some local yokels wanted their 5 minutes of national fame.
I generally agree - like with NIMBYism its mostly a case of bad incentives created by dumb government regulation, combined with the natural selfishness of people. Sports leagues have an antitrust exemption that allows them to abuse their monopolistic position in society and since there are only 32 NFL teams they have a lot of leverage to extort cities for stadium funding. The fans don't really care as their share of the tax cost is small compared to the benefits they get from it, and politicians know they will pay a high political price if the team leaves, but probably not if they waste a bunch of tax dollars to keep them there.But they only get built because people prefer to indulge themselves rather than boycott professional sports and end the problem. Sports fans are a lot like NYMBYs. They won't vote to end state subsidies of sports arenas. You can still enjoy Muhammad Ali killing his brain on YouTube.