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Report Says New Arena Would Be Worth Billions to Region

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(Sacramento, CA)
Thursday, June 30, 2011

Revenue from a new arena is projected to be 5 billion dollars in the city of Sacramento, 6 billion in Sacramento County, and another billion in surrounding counties during the 30-year life of the building. 

That's the gross income according to a new Capitol Public Finance Group Report.  Chris Lehane heads up Think Big Sacramento, formally known as Here We Build.  He says Yolo, Sutter, Yuba, Placer and Eldorado all stand to gain by helping Sacramento build a new sports and entertainment complex.

LEHANE: "I don't think there's a direct formula between how much people benefit and what we're going to ask people to contribute or what the public contribution would be.  I think it certainly helps inform the process."

The report suggests a new facility would mean 5 million in state sales tax dollars and 800 thousand in tax dollars to the city each year.  Surrounding counties would see almost 25 million dollars of spending from outside the region each year. 

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