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Article: Economists Say DC Soccer Stadium Funding 'Cannot be Justified'
- Article from:
- US Fed News Service, Including US State News
- Article date:
- June 10, 2008
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Friends of the Earth issued the following news release:
The proposal to spend $150 million or more in D.C. taxpayer funds to subsidize a new soccer stadium "will not generate notable economic or fiscal benefits for the city" according to 26 economists from across the nation who signed a joint statement being released today.
"Most studies find that new sports stadiums do not increase employment or incomes and sometimes have a modest negative effect on local economies," the economists wrote. Although the new facility "may shift some entertainment spending from the Maryland and Virginia suburbs to the District," the economists conclude that this outcome is not likely to justify the outlay of ...