Indianapolis' Super Bowl a Net Loser for Locals (rental, home)
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Nah, that won't work. The Super Bowl is only a week old. The economic impact will be studied for years, and you're already "tired" of discussing it? For some reason, people always seem to get "tired" of discussing topics that they're on the losing side of.
It won't be studied much because cost to study something that costs or generates so little one way or the other is prohibitive. You could commission a $300,000 study that would conclude, "Indy lost $500,000" or "The region made $10 million." Then you'd have to amend the study to say we lost $800,000 or made $9.7 million on account of that stupid study.
Sure enough, you'd probably be back here complaining about how that $300,000 study put the CIB in the hole.
Anybody remember the Summer Olympics waaaaaaay back in 2004? They were held in Athens, Greece--they put on a good show, and many skeptics didn't think a city/country that small would have the heft to pull it off.
That said, they didn't really engage in much long-term planning. One of the focal points, the fancy sports complex, wasn't finished until about 24 hours before the games were supposed to begin. By the grace of Zeus it was complete and nothing bad happened, because I'm sure that it didn't get all the safety inspections it needed. A lot of the other structures were left to sit and rot afterwards; now, just eight years later (has it really been that long?) much of the "Olympic Village" in Athens is apparently a run-down slum, inhabited by homeless and Roma camps.
They got their Olympics...but look where they are now. Greece is a mess, and I have no doubt that hosting the 2004 games has helped contribute to the magnitude of its bankruptcy. Hopefully, down the road, people will remember the games, and the country's eventual prosperity will help wipe away the unpleasant images we see now of protests and riots.
Indy's fiscal management blows Greece's out of the park, so I don't see anything like that happening in the future. First of all, we didn't spend that much. Secondly, most of the investments made were attached to a long-term plan that's already being implemented (we learned from the sad state of Pan Am Plaza, a site which hopefully will get developed in the next few years). Dollar for dollar, Indy may still be in the red from the Super Bowl several months from now...but the possibility for private investors to jump in who might otherwise not have even given the city a second thought before the S.B. is enough to make it most likely a smart move in the long run.
Peer reviewed articles are great. You won't see many of them in SB studies and I wouldn't waste my time on one because there isn't much that needs to be said. Why? Because every study conducted on SBs ever credibly produced article says the same thing, in terms of direct financial impact: in the worst cases, the SB doesn't hurt an economy much. In the best case, it doesn't help much either. Unlike an Olympics, there just isn't enough of a financial bite in terms of direct costs to make it worthwhile to dwell on.
One billion dollars. 1,000,000,000. Indianapolis spent that to host the game. If you can't find the presence or absence of billion dollars of impact, I can't imagine a situation in which your firm would ever be employable.
If you can't find the presence or absence of billion dollars, I can certainly understand why you wouldn't want to attempt a journal article.
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Quote:
Originally Posted by GregHenry
One billion dollars. 1,000,000,000. Indianapolis spent that to host the game. If you can't find the presence or absence of billion dollars of impact, I can't imagine a situation in which your firm would ever be employable.
If you can't find the presence or absence of billion dollars, I can certainly understand why you wouldn't want to attempt a journal article.
I've wasted enough time on this with you.
Lucas Oil was built for MORE than the Super Bowl.
Again fail at trolling and trash talking Indy
You forget the Colts threatened to leave Indy back in 2004.
2nd it was built in conjunction with the Convention Center to land Indy bigger and better conventions as garmasterb's article on the auto convention says. Gen Con will stay in Indy now until atleast 2020. The national FFA convention will rotate between Louisville and Indy. the Drum Corps international team moved its HQ from Suburban Chicago to Indianapolis and will play their convention and events at Lucas Oil Stadium each year until atleast 2018. the NCAA has a deal ONLY with the city of Indianapolis as a backup host to any Final Four and is in a solid rotation of the mens and womens Final Four every 5 years. NO OTHER CITY has that honor. The Big Ten Tournament picked Indianapolis over Chicago for the inaugurial Big Ten Football game and Indianapolis will rotate with Chicago every year for the basketball games. Indianapolis scored a Christain convention in 2020 and theres a good chance well get more conventions after the Super Bowl.
Again your clueless about how this benefits our great city.
One billion dollars. 1,000,000,000. Indianapolis spent that to host the game. If you can't find the presence or absence of billion dollars of impact, I can't imagine a situation in which your firm would ever be employable.
If you can't find the presence or absence of billion dollars, I can certainly understand why you wouldn't want to attempt a journal article.
I've wasted enough time on this with you.
Lucas Oil was built for the Colts before any guarantee of getting the Super Bowl. It would have been built even if the NFL told the city, "you aren't getting the Super Bowl...ever".
If you're going to include the cost of the stadium, then you might as well include the cost to build everything the visitors touched/needed during their stay:
-the airport
-the cost of expressways from the airport to downtown
-the cost of Circle Center Mall
-the cost of Pan Am Plaza
-the cost of the convention center
Your lack of perspective and any form of logical thinking in the argument I've quoted amazes me.
One billion dollars. 1,000,000,000. Indianapolis spent that to host the game. If you can't find the presence or absence of billion dollars of impact, I can't imagine a situation in which your firm would ever be employable.
If you can't find the presence or absence of billion dollars, I can certainly understand why you wouldn't want to attempt a journal article.
How about the city using OUR property taxes to help keep the Pacers here? But libraries, pitiful sewer system, septic tanks( yes in this modern age for a world-class city) those are not important issues. SuperBowl is gone, what is going to be done to make living here better?
He included the cost of Lucas and a bunch of other infrastructure things that would have happened with/without the Super Bowl.
The logic, uh, isn't there.
A friend of mine is putting a pool in this spring. I'm going to invite Greg. He can go tell my buddy that it cost him $50,000 to host this BBQ and it was a stupid idea (the cost of the pool, deck, new grill, etc.)
How about the city using OUR property taxes to help keep the Pacers here? But libraries, pitiful sewer system, septic tanks( yes in this modern age for a world-class city) those are not important issues. SuperBowl is gone, what is going to be done to make living here better?
While the CIB was provided a temporary infusion of property tax monies (i.e. it has to be paid back), the CIB's permanent funding sources are still not related to property tax revenue.
As for the sewer system and septic tanks, this is currently being addressed. The improvements are in process. No one can wave a magic wand and make those problems go away overnight.
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