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A waste of time – Bears are just using Indiana as a stalking horse… The City of Chicago and the State of Illinois will throw gobs of taxpayer money (that neither have) to keep the Bears.
Not a waste of time at all. Agreed getting the Bears are fairly remote, but is worth the time for the chance. But more so, for a public demonstration of how / how quickly the IN govt can work to put together this scale of a deal, in contrast to some other states – especially IL.
That can pay off in future, in currently unknown ways.
Yes, it’s a waste of time until they start detailing the taxes and amount that will pay for the stadium. I don’t know how anyone can support until that’s known. Remember, it took an increase of 1% of F&B tax on Indy and most donut counties to pay for LOS. The region lacks that kind of economic activity.
Huston “We’ll do everything we can. I think it’s an incredible economic opportunity for northwest Indiana and for the state of Indiana”
Linked IBJ story on the math: “…while stadium projects in dense downtown areas can struggle to make the math work, it’s nearly impossible to do so in suburban areas, Noonan said.
“If you don’t bring in some other tools and make some other investments, this is likely to be a very impressively concentrated and captured amount of spending [inside the stadium] and may not spread very far,” he said.
“In the normal setup where there is an urban NFL stadium or other big pro sports stadium with a big city developed around it in some form or another, the economic impact of that spending … is [still] generally underwhelming at best.”
Boondoggle. Then again, Huston claims data centers lead to lots of jobs for Hoosiers.
Always room for corporate welfare projects of billionaire’s ! But we can’t afford to fund adequate child care service for working families
Many details yet to be determine to close this potential deal but this mismatch of 40-year bonds, with a NFL team 35-year lease is a big problem. Illinois taxpayers still owe $600 million on Soldier Field renovation and the Bears early termination fee will not cover the outstanding debt.
Early on, the Great Todd said we don’t have time to discuss property taxes, to discuss legalization of pot, to discuss a downtown Indy casino, but….he has time for an Illinois team. His priorities and the constituent’s priorities never seem to jive!
Don’t forget Huston’s pet project is to invite the portions of Illinois that would be a drain on our resources … to give up their legal weed and join Indiana. Never gonna happen.
Sorry but I do not support tax payer money being used to fund stadiums that most working people who paid those taxes will never be able to afford to go too. I contrast this corporate welfare with the Indianapolis Motor Speedway that as far as I know has never taken tax dollars for any of the massive improvements they have made. Tony George and now Penske foot the bill and yes, they make lots of money, but in my opinion they deserve it.
They got $100 million dollars awhile back and didn’t even threaten to move the track if they didn’t get the tax dollars.
I would need to see a very detailed plan showing how this would help Indiana citizens. Indianapolis and Indiana are very quick to throw money at anything sports related. And I realize it does bring people (who in turn bring money) to the city/state. But the deals they broker never seem to help the majority of the citizens. Too many people in Indy can’t afford to go to a Colts game. By the time you add up the price of the tickets, parking, food, beverages and maybe some merch, the average person is priced out of attending. Very little, if any, of that money really comes back to the citizens unless they have a business that benefits. Poorly negotiated contracts that send most of the money to the team owners kill us!