Economists: Soccer Stadium is Bad Investment
The D.C. Fiscal Policy Institute has posted a statement this morning signed by 26 economists who contend that public subsidies for a soccer stadium for D.C. United will do little to spur development. The letter is similar to one signed by more than 100 economists during the debate over the city's $611 million baseball stadium. The soccer stadium won't be used enough to justify the large public subsidies -- between $150 million and $225 million -- being considered by D.C. government officials, the economists said.
A "soccer stadium that is used just 20-30 times per year cannot realistically be expected to be a driver of economic development," said Brad Humphreys, an economist at the University of Alberta, a co-signer of the letter.
The D.C. Fiscal Policy Institute, a liberal think tank that studies social issues, is pushing for the city to invest in housing, libraries and parks, education, and the environment, according to director Ed Lazere.
The comments to this entry are closed.