St. Louis Cardinals Stadium Economic Study Released

Building a new St. Louis Cardinals stadium and surrounding developments will pour $800 million into the region's economy, according to a study for the St. Louis Regional Chamber & Growth Association. The figures take into account not just the stadium, but construction of the first two blocks of Ballpark Village, a mixed-use development next to the park, paid for in part by the Cardinals.

But the study, conducted by Bryan Bezold, the RCGA's chief economist, does not include the economic impact of Cardinals games or the businesses that would operate in Ballpark Village. The $800 million impact is broken into four parts:

-$387 million to construct the stadium and surrounding infrastructure, mainly roads.

- $307 million in "indirect impacts" from construction, including part of the wages earned by workers at the site and payments to local construction suppliers.

- $60 million, the team's investment in Ballpark Village.

- $47 million in indirect impacts from building Ballpark Village.

Personally, I tend to be skeptical about economic impact studies of this sort unless they are based upon only the most conservative estimates of revenue generation. Also, it is important to examine the net impact after expenditures to build and operate the facility. It's treat it like a business. What's the gross and net profit after all costs are accounted for?

Go here to read more.