Heavy Lifting - thoughts and web finds by an economist
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Thursday, May 13, 2010
Occasionally a public official says something that is closer to honesty considering the economic impact of sporting events on a local economy. It is rare, as most public officials are always optimistic that any event will have tremendous economic impact on their city/region.
The NY Jets/Giants have submitted a bid to host the 2014 Super Bowl in their new stadium. One problem? The stadium is located in New Jersey and has no roof. This, on the surface, would seem to doom the Super Bowl bid, but then again, we are talking about New York, not Green Bay. The people who attend the Super Bowl are much more likely to attend an outdoor game in the New York area than in Green Bay.
However, as reported in the Newark Star Ledger:
Most of the entertainment events in the week leading up to the game would be held in Manhattan, and the host committee acknowledges that most fans would likely stay and spend considerable time in New York.
Yes, the majority of the benefits would likely accrue to NYC instead of Teterboro, New Jersey. I appreciate the brief moment of honesty on the part of the Giants' owner.
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