• Sun. Apr 21st, 2024

Royals Unveil Economic Impact Projections for Crossroads Stadium Proposal

BySamantha Johnson

Mar 23, 2024
Royals Unveil Economic Impact Projections for Crossroads Stadium Proposal

The Kansas City Royals and Jones LaSalle Long, a real estate firm hired by the team, presented information on how the proposed Royals stadium in downtown Kansas City would impact the local economy. According to the presentation, the construction of the stadium and neighboring entertainment district would create a total of 26,000 jobs, with $1.8 billion in salaries and $3.8 billion in overall economic impact.

Gus Dossett of Jones LaSalle Long shared that once the stadium opens, it would generate 5,400 jobs with $300 million in employee earnings. The ballpark would contribute $880 million to the economy in that year alone. When the neighboring entertainment district with a hotel and other amenities is fully operational, the project is expected to support 8,400 new jobs, with a combined salary of $440 million and an overall economic impact of $1.2 billion.

The predictive numbers were based on the assumption that the stadium would attract between 2 and 3 million fans over a season. In comparison, the team had 1.3 million fans in 2023, when it had one of the worst records in the Major League Baseball. In 2016, the season after winning the World Series, the team saw attendance of 2.6 million fans.

In the past, the Royals had released economic impact data for two other potential stadium sites: the East Village and North Kansas City. The figures presented for the Crossroads site on Friday exceeded the earlier projections. The Congressional Research Service published a report in January discussing the economic influence of sports venues, stating that public funding for stadiums has limited economic effects. It also points out that any new spending supposedly generated by the stadium would have occurred locally regardless, just not necessarily around a new stadium.

By Samantha Johnson

As a content writer at newszkz.com, I delve into the realms of storytelling, blending words to paint vivid narratives that captivate and inform our readers. With a keen eye for detail and a passion for research, I craft compelling articles that resonate with our audience. My love for words drives me to explore diverse topics, ensuring that each piece I create not only educates but also entertains. Join me on this journey as we navigate the ever-evolving landscapes of news and knowledge together.

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