|
Key Findings of George Mason University's Report on Major League Baseball's Economic and Fiscal Impacts in Virginia 2003 Update |
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CONSTRUCTION IMPACTS ($300 million ballpark model) |
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Direct Construction Spending in Virginia |
|
$134.0 |
million |
|
Total Virginia Economic Impact Generated by Construction Spending |
|
$304.2 |
million |
|
Total Personal Income Generated for Virginians by Construction Spending |
|
$100.4 |
million |
|
Tax Revenue Generated for Commonwealth of Virginia by Construction Spending |
|
$5.8 |
million |
|
Tax Revenue Generated for Virginia Local Governments by Construction Spending |
|
$3.6 |
million |
|
ANNUAL OPERATIONS IMPACTS |
|
|
|
|
Annual Team and Fan Spending in Virginia |
|
$130.2 |
million |
|
Annual Economic Impact in Virginia Generated by Team Operations |
|
$266.9 |
million |
|
New FTE Jobs Generated by Team Operations in Virginia (Annual) |
|
3,938 |
|
|
New Personal Earnings Generated by Team Operations in Virginia (Annual) |
|
$77 |
million |
|
Tax Revenue Generated for Commonwealth of Virginia by Team Operations (Annual) |
|
$12.9 |
million |
|
Tax Revenue Generated for Virginia Local Governments by Team Operations (Annual) |
|
$7.9 |
million |
|
30-YEAR OPERATIONS IMPACTS |
|
|
|
|
Total Economic Impact in Virginia Generated by Direct Team Spending and Stadium Operations |
|
$5.45 |
billion |
|
Total Economic Impact in Virginia Generated by Direct and Indirect Spending |
|
$11.18 |
billion |
|
Total Personal Income Generated by Team and Ballpark |
|
$3.22 |
billion |
|
Total Tax Revenue Generated for Commonwealth of Virginia |
|
$538.0 |
million |
|
Total Tax Revenue Generated for Virginia Local Governments |
|
$280.9 |
million |
|
Total Tax Revenue Generated for State and Local Governments Including Construction Phase |
|
$828.4 |
million |
|
Total Estimated Bond Repayment Costs @ $18 million/year |
|
$540.0 |
million |
|
Net Positive Fiscal Impact for Virginia
after 30 Year Bond Repayment |
|
$288.4 |
million |
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POTENTIAL NEGATIVE REVENUE IMPACT OF PERMANENT TEAM LOCATION IN DISTRICT OF COLUMBIA |
|
Annual Fan Spending in District of Columbia by Virginia Residents (does not include business traveler/tourist spending) |
|
$71.5 |
million |
|
Potential Revenue Loss for Commonwealth of Virginia and Local Virginia Governments during D.C. Team's First 30 Years of Operation |
|
$266.4 |
million |
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