Again, although it is the city of Charlotte paying the bill, it will probably come out of a hotel tax so that people from outside of Charlotte are actually providing the revenue. And although they are called the Carolina Panthers, Charlotte gets the economic benefits of having the team in their town.
Because the team brings no real economic benefit to Greensboro, Wilmington, Greenville(either one) , Charleston, or any other town in the majority of the two state area.
“The net economic impact of professional sports in Washington, D.C., and the 36 other cities that hosted professional sports teams over nearly 30 years, was a reduction in real per capita income over the entire metropolitan area,” Humphreys and Coates noted in the report.
The researchers found other patterns consistent with the presence of pro sports teams. Among them:
• a statistically significant negative impact on the retail and services sectors of the local economy, including an average net loss of 1,924 jobs;
• an increase in wages in the hotels and other lodgings sector (about $10 per worker year), but a reduction in wages in bars and restaurants (about $162 per worker per year).
Those employed in the amusements and recreation sector appeared, at first glance, to benefit significantly from the presence of a pro team, with an average annual salary increase of $490 per worker, Humphreys said. However, he added, “this sector includes the professional athletes whose annual salaries certainly raise the average salary in this sector by an enormous amount.
As it turns out, those workers most closely connected with the sports environment who were not professional athletes saw little improvement in their earnings as a result of the local professional sports environment.”
Humphreys, who plans to present data from the report at a Nov. 29 hearing in Washington, D.C., said it is fairly common for city officials – blinded by bright visions of dollar signs – to pose as cheerleaders for projects aimed at attracting pro teams.