You cannot use the convention center as an arugument against the stadium. local taxpayers ARE NOT paying for it. Operation of the Convention Center is funded by a 3% tax visitors pay when they stay in a hotel in Wilmington. City property taxes are not used to fund the Convention Center.
Property tax dollars were also not used to build the Convention Center. The North Carolina General Assembly passed legislation in 2003 that created a 3% tax on Wilmington hotel rooms to provide the money necessary to build and operate the Convention Center. These Room Occupancy Tax (ROT) funds, by law, can only be used for the Wilmington Convention Center.
It's all about creative financing, you can't form an opinion when they haven't released their feasibilty study.
Early estimates project about 650 jobs created for the first year, with an positive economic impact of about 64 million. With 140 jobs and 9million impact after that.
That means GROWTH. That means more people coming into the city to spend money. Which means more busineses in the city. It's a spinoff effect, seen in many other area that built a new stadium. Businesses want to be near the stadium and thus more jobs will created yet again.
You cannont compare the failures of the two teams that played at Brooks field to this. The rooster were never a long to term solution, they always intended to leave when their stadium was built. The Waves were doomed from the start with poor financial planning. Not to mention missing the entire 21-30yr old demographic. An issue the ownership themselves attributed in part to their failure.
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You can also watch the entire power breakfast which answers many questions here:
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