New York looks poised to give the Buffalo Bills $850 million to help the team build a new $1.4 billion stadium. The proposed deal has renewed a debate about government's role in supporting private businesses.
State Assemblymember Ron T. Kim, a Queens Democrat, used a curse word on Twitter to refer to the proposal. Sochie Nnaemeka, the director of the influential Working Families Party, called the deal “a continuation of trickle-down economic development schemes that have enriched wealthy investors on the backs of Black, brown, and working class communities.”
That, probably more than anything else, is what has prompted numerous cities and states to put up big bucks for sports arena projects, either to keep teams from moving or luring them away from elsewhere. The promise of economic development tied to sports has also led numerous small cities and counties to invest public dollars in minor league teams.
Sports teams do bring in out-of-town fans who patronize local hotels and restaurants, but the jobs created and tax revenue generated rarely come close to the rosy projections, experts say.
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