Wednesday, June 14, 2017

West Villages: Braves Facility Expected $1.7 Billion Projected Economic Impact

West Villages Blog

Taken From Latest Newsletter/Email from West Villages Development Group
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The new Atlanta Braves Spring Training Complex being developed in West Villages Florida  is expected to generate more than $1.7 billion in economic impact during the 30-year contract with the team.

On Monday this week, The West Villages Improvement District, along with Sarasota County, the City of North Port and the Atlanta Braves, filed a grant application with the State of Florida asking for $20 million to help with facility construction costs. The economic impact study is part of the application process.

“This conservative impact study shows what a dynamic impact the Atlanta Braves Spring Training Complex is going to have on North Port, Sarasota County and the region,” said West Villages Improvement District Chairman Martin Black, AICP, ICMA-CM. “We know this stadium and the excitement of Major League Baseball have more than just an economic impact, it will truly touch this community for two generations or more.”

The spring training complex will enhance and promote tourism while providing jobs and economic growth within the City of North Port and Sarasota County.

The Stantec study goes into great detail explaining how the company came to its conclusions about the economic impact of the spring training complex.

“Using the Total Direct Annual Expenses … the indirect and induced effects were estimated using the multiplier provided in the 2009 Major League Baseball Florida Spring Training Economic Impact Study Report, to estimate a total economic impact resulting from Direct Expenses,” the report reads.

The study looks at comparative Southwest Florida spring training facilities and even evaluates the fan base in segments to make sure the impact numbers reflect the real direct expenses. Conservatively, the study looks at the 6,500-seat stadium at a slowly rising attendance over the first 10 years of the deal.

“To understand the long-term economic impact of Atlanta Braves Spring Training in West Villages, the total economic impact over the next 30 years was calculated, in net present value, assuming a conservatively steady annual attendance growth rate of 1 percent for the first ten years, to 2028, maintaining approximately 82 percent stadium capacity, for the following 20 years,” the study reads.

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19503 S. West Villages Parkway, Venice, FL 34293 All rights reserved.

Ali H. Johnston, MHA, MBA in Real Estate
Realtor®, Lic. Broker #BK3284964
West Villages Realty LLC
Office: 941-460-3179

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