Florida Marlins Hope to Stimulate South Florida By Sucking $634 Million Out of Miami's Economy
Let's say you own a mediocre ballclub in a state that has been rocked hard as hell by the recession. You don't want to go to Disneyworld up north a bit in Orlando—you want a brand-new taxpayer-funded stadium that will line your pockets even as jes' plain folks start selling apples for a living.
Miami-Dade County, where the 13-member commission will be asked Monday to bankroll the lion's share of funding for the $634 million stadium and parking complex in Little Havana.
With the county's blessing there, the mirage is closer to reality: a new 37,000-seat retractable-roof stadium to rise in 2012 for the financially strapped ball club with a history of low payroll and attendance….
"It's just like beating the Cubs in Game 6. We still have to come back and play Game 7," a buoyant Marlins President David Samson said moments after the vote, recalling his team's storied 2003 playoff run.
The Marlins won Game 7 in a rout, then took the World Series against the New York Yankees.
Yes, it is just like beating the Cubs. Except for the part about building a new stadium on the backs of local taxpayers. Other than that, it's practically indistinguishable.
Hat tip: Margaret Griffis.
Reason.tv did the math on how much professional sports teams cost local economies. When you tally up all the subsidies and other drains on taxpayers, they end up dinging residents for about $40 a year, whether you go to the games or not, says University of Maryland at Baltimore County economist Dennis Coates. Watch below for details. And go here for embed code and related links.