[Stinky Buffalo]

Interesting article in the news today...

Article: Economists see little payoff for cities that subsidize pro sports facilities

Some proponents of giving land, loans or direct subsidies to professional sports projects say the investment is repaid in economic benefits for the city but economists say numerous studies have shown that's not the case.

"Overall, the research is pretty clear that there aren't aggregate benefits of such subsidies for the city as a whole," said Trevor Tombe, associate professor of economics at the University of Calgary.

University of Calgary economist Trevor Tombe says public subsidies for professional teams usually only benefit political careers of city politicians. (CBC)

"What they really end up doing is shifting activities across sectors and across locations."

Tombe said public subsidies for professional teams usually only benefit political careers of city politicians: "Cynically, I would phrase it as it provides a very good photo op."