Atlanta Braves Developments 2018 Tax Revenue Generate A Net Gain
Much wailing and gnashing of teeth was made about how the new home of our Atlanta Braves was going to be a bust for taxpayers. Well, apparently the numbers from last year, the first full year of operation in their new home in Cobb County, don’t necessarily bear that out according to a report from the Marietta Daily Journal.
“I’m sure everyone is delighted to hear that this project is on a positive slope, and as I’ve been saying for a long time, we’re probably going to get to where we want to go sooner than I thought,” county Chairman Mike Boyce said after Monday’s presentation. “So far, (this) has been a positive impact on the county in many different ways, and we’re looking forward to that trend continuing.”
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“I think the highlight is it was portrayed that this was going to end up costing the public this enormous amount of money, and that the dividends and the benefits were never going to play out. and now, here we are,” [President and CEO of the Braves Development Company Mike] Plant said.
The Battery is a major boon to the area, and it appears that it will continue to be as Thyssenkrupp breaks ground on it’s new North American HQ inside the complex. Hopefully the Braves will continue to bring home the bacon for Cobb County–and a World Series title *would* be nice too.
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nsmith
Father. IT Geek. Former 14th District GOP Chairman (2015-2017). Former Walker GOP Chairman (2009-2013). Resident of Chamblee. American. Georgian. Conservative.
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Cobb County’s 2018 cost for Suntrust Stadium was $25 million, including $5.8 million from the general fund per the AJC.
The MDJ doesn’t cite a total cost, but includes this: “In all, the additional revenues totaled more than $20.1 million for county government, county school district, and state.”
The $20.1M included such things as additional fire service contributions, but makes no mention of deducting fire services expenses. It probably doesn’t include deduction of other expenses such as school expenses.
There’s this to consider: “Liberty Media also disclosed that the Braves’ operating profit before depreciation and amortization surged to $94 million for 2018, up from $7 million the year before.”
https://www.ajc.com/sports/braves-revenue-surges-442m-for-2018/R7IFP39ODOx68FCmIPVZFO/
the Braves’ operating profit before depreciation and amortization surged to $94 million for 2018, up from $7 million the year before
Sure am glad to see Liberty Media just pocket that cash rather than spending it on signing someone like Manny Machado or Bryce Harper.