http://www.scout.com/stadium-journey/story/1706914-economic-study-released-for-vegas-nfl-stadium

Courtesy of Manica Architechture

Economic Impact Study Released for Las Vegas NFL Stadium

MICK AKERS

09/15/2016

As a decision on whether to recommend to Nevada Gov. Brian Sandoval that he call for a special legislative session to approve plans to construct a proposed NFL stadium for the Oakland Raiders in Las Vegas nears, developers of the project conducted an economic impact study.

The study was posted to the Southern Nevada Tourism Infrastructure Committee’s (SNTIC) website ahead of Thursday morning's meeting that will include the stadium topic.

The $1.9 billion stadium’s future hinges on a $750 million public contribution via an .88 percent room tax that the Raiders and the Las Vegas Sands Corp. said they need or they’ll scrap the idea. The other $1.15 billion would be filled from $650 million from Sands Corp. CEO and Chairman, Sheldon Adelson 

(NOW WILL BE FINANCED TRU BOA BANK)

, and $500 million from the Raiders.

To entice the SNTIC to recommend a special session to Gov. Sandoval, the possible economic impacts were laid out.

In a study sourced to IMPLAN, who used an input-output model, it states that the annual economic impact to Las Vegas would be to the tune of $620 million. The study claims the stadium would draw 450,000 more visitors per year to Sin City.

The stadium economic study suggests a slew of temporary and permanent jobs would be created to construct and then operate the stadium.

A total of 18,711 construction jobs are forecasted to be created to build the NFL-ready stadium, producing $968 million in total wages to those temporary positions.

The possible long term employment effect is projected to create 5,982 permanent positions, with an annual total wage output of $231 million. The average yearly wage of those jobs is estimated at $38,500, or an average of $20.05 per hour.

Public revenue impacts on an annual basis is projected to bring in $35 million—$22.5 million to local government and $12.5 to the Nevada General Fund.

In addition, the study claims that $13.4 million will go to Nevada education revenue on a yearly basis.

The economic study also broke down the the costs of building the proposed stadium. Construction costs are predicted to run $1.32 billion, land, infrastructure and site costs came in at $375 million, the practice facility is projected to cost $100 million and also included is $100 million in contingency costs, for a total of $1.9 billion.