University pushes numbers, touts domed stadium
Published: March 25,2013
JACKSON — Jackson State University says building a domed stadium would create nearly $65 million in personal income and more than $7 million in revenue for the school in its first year of operation.
The Clarion-Ledger reports the claim was made in an economic impact analysis released late last week by the university.
David Hoard, Jackson State vice president of institutional advancement, said the study shows a domes stadium would be an economic development engine for the community.
The analysis was performed by the state College Board based on data provided by Jackson State.
A bill that would have provided $75 million in bonds for construction on the stadium died in a legislative committee Feb. 27, the same day Hoard announced the project’s $200 million price tag.
But university officials are hopeful the Legislature will still find a way to provide the funding.
In a written statement, Jackson State said it would repay the money “by combining the projected General Fund revenue of $39 million from sales and other taxes, plus the amusement tax of $50 million over 20 years.”
Hoard also has said he has identified 13 other funding sources that could generate the needed revenue, including revenue from parking, naming rights for the stadium, sky-box suites, season tickets and concessions.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Ridgeland property rights tussle is expected to have wide impact
- Host families prepare for Mississippi Braves’ season
- JOSH MABUS — Mississippi’s Healthcare: Not a quality problem, a marketing problem
- Mississippi takes an incentives licking, keeps on ticking
- Investors in Northbrook complex say Ridgeland targeting its own collateral for demolition
- AWAITING ITS FATE: Gables complex may have to shrink to meet law
- HUNTER ARNOLD: Mississippi, Gulf Coast states focus on global business markets
- PHIL HARDWICK: When will Mississippi change its culture?
- Mississippi furniture makers on rebound with more exports