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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.

By David A Nakamura  |  June 10, 2008; 9:46 AM ET
Categories:  D.C. United , David Nakamura  
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