Las Vegas Stadium Tragedy

One thing many economists agree on is the overall lack of effect sports can have on a city. Cities seem to be less impacted by a professional sports team because of things like opportunity costs, substitution effects, crowding out, and leakages (Baade, Baumann, Matheson, 2008, p. 797). These economists’ theory is that if there weren’t sports teams, people would still choose to spend money on other entertainment or attractions (Baade, Baumann, Matheson, 2008, p. 797). How the substitution effect works in sports is you imagine a city has a game, which supposedly tons of tourists and outsiders come to enjoy. These outsiders come for the specific event in which they are paying a good amount for, are not going to want to spend tons of money on other

The rise in popularity of professional sports over the last century has brought financial gain and stability to many facets of the economy. Whether it is a new franchise, stadium, or the signing of a big-name player, these activities bring attention to a region or group and influence often comes as a result of that attention. Money brought into an area from ticket revenue, hotel bookings, merchandise sales, and other businesses are impacted financially when a stadium is built. The economic influence a stadium brings to a local economy is a positive one. Many factors come into play when anticipating the construction of a new stadium.

Symbolism is the idea that something can represent another thing, usually in a book. Authors often use specific objects, colors, or people as symbols to represent certain themes and ideas that the author wants to emphasize in the book. Within Jamie Ford’s book, Hotel on the Corner of Bitter and Sweet, he uses Oscar Holden’s record as a symbol in the story, among many other objects, people and places. In Hotel on the Corner of Bitter and Sweet, Oscar Holden’s record represents Henry’s love for jazz throughout his life, and the record also represents Henry and Keiko ’s promise to wait for each other.

I am going to discuss the topic of National Football League stadiums and their public funding. The purpose of the study is to find out if funding of NFL stadiums is “bad business,” The research I will look at the impacts that a stadium has on the economy in the city. Cities’ like to have attractions that they can draw from and be proud of. Most cities have some form of sport arena, and more are being built or are planned to be built. As with any business there are positives and negatives when hosting a sports team. Cities pay multimillions to help fund and build sport stadiums for teams. I hadn’t researched or looked into this topic before, so I was very intrigued by this. At the end of this paper I will give my own personal opinion.

The past 20 years have witnessed a massive transformation of professional sports stadiums in North America and the rest of the world. In the United States and Canada alone, by 2012, 125 of the 140 teams in the five largest professional sports leagues, the National Football League (NFL), Major League Baseball (MLB), National Basketball Association (NBA), Major League Soccer (MLS), and National Hockey League (NHL), will play in stadiums constructed or significantly renovated since 1990. This new construction has come at a significant cost, the majority of which has been covered by taxpayers. Construction costs alone for major league professional sports facilities have totaled in excess of $30 billion over the past two

Proponents of subsidizing sports stadiums is a great decision because the economic impact it will have on the community is great for two main reasons. First, sports stadiums are massive construction projects. In fact, one could compare them to a medieval cathedral in their attempts to dominate a skyline and inspire pride in one’s city And, just like these cathedrals, they are very expensive, and massive building projects that would require many years of hard painstaking labor. For example, the proposed stadium for the Los Angeles Rams in Inglewood, California, was predicted to cost $3 billion and add 22,000 construction jobs to the economy of Los Angeles, California. Although construction jobs do eventually disappear once a stadium is constructed once the games begin, so does the massive consumer spending. For example, more than 3.5 million people saw the St. Louis Cardinals play at Busch Stadium in 2015.

Living in Memphis, TN I can really relate to this topic. I can relate to this because just a few years ago, Memphis built a stadium. The FedEx form Building this stadium has had a huge impact on the economy in Memphis. And it has helped to revitalize the down time area of the city. In this paper, I will be addressing the two following questions; what are the benefits to a town of building a new stadium? And can a new stadium revitalize a decaying section of a city?

For example, when the Rams moved to Los Angeles, their record dipped from 7-9 to 4-12, quite a significant decline for a team who retained most of their players from the previous season. Furthermore, Las Vegas itself will negatively affect the team. Vegas has a party atmosphere, which can lead the players to go do things they shouldn’t be doing during the season. Las Vegas doesn’t offer much to do besides gamble and drink, so many players will take to it as an activity to kill time. A few players have a history of problems with drugs and drinking, most notably Aldon Smith.

   Abstract:  The Stadium  construction boom continues, and taxpayers are being forced to pay for new high tech stadiums they don’t want.  These new stadiums create only part-time jobs.  Stadiums bring money in exclusively for professional leagues and not the communities.  The teams are turning public money into private profit.  Professional leagues are becoming extremely wealthy at the taxpayers expense.  The publicly-funded stadium obsession must be put to a stop before athletes and coaches become even greedier.  New stadiums being built hurt public schools, and send a message to children that leisure activities are more important than basic education.  Public money

In the United States, new sports stadiums are commonly seen as a vital part of the redevelopment of a city having a great economic growth with the production of jobs and a positive income builder. After this, the owners of the pro sports teams with millions and millions of dollars of subsidies for the construction of new stadiums and arenas and expect these facilities to generate economic benefits exceeding these subsidies by large margins. However, a growing body of fact indicates that professional sports facilities, and the franchises they are home to, may not be engines of economic benefit anywhere claims Sachse, “. In reality, sports franchises typically account for a very small proportion of the total economic output of the cities in which they reside.” Some economical studies on the amount of income and employment in US cities find no evidence of positive economic benefits associated with past sports facility construction and some studies find that professional sports facilities and teams have a net negative economic impact on income and employment. It just shows that these results suggest that at best, professional sports teams and facilities provide non-pecuniary benefits like civic pride, and a greater sense of community, along with consumption benefits to those attending games and following the local team in the media; at worst, residents

With the Corporate Gaming Act of 1969, Las Vegas began a slow transition towards “respectability.” Gambling in Las Vegas was gaining in popularity in the 1950’s and 1960’s, but the mob presence itself was preventing Las Vegas from attracting the necessary outside funds to turn it into a dominant Metropolis (204). “Nevada seemed to be shedding this image in favor of the many new family-oriented “theme resorts” that were being built, especially in Las Vegas (204). Then there’s The Rat

Immigration, it is one of the biggest steps in life than an individual could take. To immigrate, one must essentially leave behind the life they they know, for a new one. Many immigrate for a variety of different reasons that include the seeking of wealth and success, more freedom, or a better life overall. It takes a lot to drive somebody to leave their life completely behind, and the driving factors must be significant ones to influence this immigration. I plan on looking into the reasons that Koreans choose to immigrate to America, why do they pick America, and where they specifically settle (state-wise) and why. I would expect that the seeking of riches and possibility is one of the biggest drivers of immigration to America, in a seeking

Unfortunately, these arguments contain bad economic reasoning that leads to overstatement of the benefits of stadiums. Economic growth takes place when a community's resources--people, capital investments, and natural resources like land--become more productive. Increased productivity can arise in two ways: from economically beneficial specialization by the community for the purpose of trading with other regions or from local value added that is higher than other uses of local workers, land, and investments. Building a stadium is good for the local economy only if a stadium is the most productive way to make capital investments and use its workers.

I was standing on the street corner in downtown Great Falls, Montana, waiting for the annual Big Sky Pride Parade to begin. All sorts of rainbow-clad people roamed up and down the street, happily enjoying the sunshine and positive atmosphere of the day.

Have you ever wondered what it is like to live in Las Vegas, the entertainment capital of the world, a gambling mecca for millions every year? What could it possibly be like for a person to live in a city known as "Sin City," where the only thing hotter than the bright lights is the sun. According to lasvegasnevada.gov over 600,000 people live in Las Vegas now, which is triple what it was just twenty years ago. It is a city built as a railroad town that has turned into one of the most well known cities in the world. Las Vegas is not just a tourist destination, but a great place to live. With countless job opportunities, strong economy, beautiful weather and state of the art education, Las Vegas is