|
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
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$134.0
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million
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Total Virginia Economic Impact Generated
by Construction Spending
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$304.2
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million
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Total Personal Income Generated for Virginians
by Construction Spending
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$100.4
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million
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Tax Revenue Generated for Commonwealth
of Virginia by Construction Spending
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|
$5.8
|
million
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Tax Revenue Generated for Virginia Local
Governments by Construction Spending
|
|
$3.6
|
million
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ANNUAL OPERATIONS IMPACTS
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|
|
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Annual Team and Fan Spending in Virginia
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$130.2
|
million
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Annual Economic Impact in Virginia Generated
by Team Operations
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|
$266.9
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million
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New FTE Jobs Generated by Team Operations
in Virginia (Annual)
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3,938
|
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New Personal Earnings Generated by Team
Operations in Virginia (Annual)
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$77
|
million
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Tax Revenue Generated for Commonwealth
of Virginia by Team Operations (Annual)
|
|
$12.9
|
million
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|
Tax Revenue Generated for Virginia Local
Governments by Team Operations (Annual)
|
|
$7.9
|
million
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30-YEAR OPERATIONS
IMPACTS
|
|
|
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Total Economic Impact in Virginia Generated
by Direct Team Spending and Stadium Operations
|
|
$5.45
|
billion
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|
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
|
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Total Tax Revenue Generated for Virginia
Local Governments
|
|
$280.9
|
million
|
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Total Tax Revenue Generated for State and
Local Governments Including Construction
Phase
|
|
$828.4
|
million
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Total Estimated Bond Repayment Costs @
$18 million/year
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|
$540.0
|
million
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Net Positive Fiscal Impact for Virginia
after 30 Year Bond Repayment
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$288.4
|
million
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POTENTIAL NEGATIVE REVENUE
IMPACT OF PERMANENT TEAM LOCATION IN
DISTRICT OF COLUMBIA
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Annual Fan Spending in District of Columbia
by Virginia Residents (does not include
business traveler/tourist spending)
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$71.5
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million
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|
Potential Revenue Loss for Commonwealth
of Virginia and Local Virginia Governments
during D.C. Team’s First 30 Years of Operation
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$266.4
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million
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| Click
here to download the complete study. |
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