Monday, October 5, 2009

KC arena makes money, Louisville economic trends, and transportation around the country

This is pretty interesting. Most of the arguments against sports arenas is that they don't make any money. Well, the Sprint center in Kansas City just did. I wonder if our arena will do the same. Here's the link, and some of what the article says.

"Kansas City is expected to cash in on a rocking year of concerts and events at the Sprint Center to the tune of $1.8 million.

The surprise boost comes from a profit-sharing section in the development agreement between the city and the arena’s operator, Anschutz Entertainment Group.

It specifies once that AEG turns a 16 percent profit at the building, the city gets half of any additional proceeds."

If you are interested in how Louisville is doing economically then check out Bureau Of Economic Analysis website they have some very interesting stats. If you don't feel like combing through all of the charts and then analyzing the data then read this post from the Urbanophile. He does a pretty good job for you.

Last but not least. Here is a list of all US rail transit projects from 2000-2009. I wonder what city we all know and love is missing from this list?

1 comment:

  1. Louisville's Arena will probably not be profitable due to The Mens and Womens Basketball priority that will take away concert dates. Concerts are the most profitable venture for Arenas and Stadiums. It will however induce Downtown Development in the NuLu (East Market) and Butchertown region. We can only hope the New City Center and Museum Plaza projects ever get off the ground.