Associated Industries of Missouri supports new St. Louis sports stadium
According to a new study just released by Missouri Wonk, Missouri will see a $169 million net positive tax impact from a proposed new football stadium in St. Louis and its associated football team.
The study was commissioned by Associated Industries of Missouri and the St. Louis NFL Stadium Task Force, which engaged Missouri Wonk to conduct an economic analysis of the construction and operation of a new stadium on the riverfront, north of downtown St. Louis.
Missouri Wonk’s figures show that over a 36 year period including the years of construction and 32 years of operation, the benefits to Missouri break down as follows:
Direct benefit: $477 million
Indirect and induced tax benefits: $56 million
Total benefit: $533 million
Less costs: $364 million
Net Benefit: $169 million
“Associated Industries of Missouri partnered with the governor’s task force to find the best, most accurate, numbers,” said Ray McCarty, president and CEO of Associated Industries of Missouri. “As with other reports, this most recent report shows a net benefit to the state if the state helps build the stadium and a loss to taxpayers if we do nothing, because we will lose tax revenue from NFL players, staff and visiting teams.”
AIM will continue to monitor additional information that becomes available from all sources as the project develops. CLICK HERE FOR THE FULL STUDY.