Earlier this week I wrote about the chairman of the Greensboro Coliseum’s somewhat awkward attempt to win friends and influence people in light of director Matt Brown’s nice salary hike. Today’s N&R front-pager follows up, citing two studies making the case that the coliseum (almost) pays for itself:
On the official balance sheet, the Greensboro Coliseum ran $2.2 million in the red last year.
But an estimated $1.6 million to $2.1 million came back to the city in the form of tax revenue as a result of coliseum and visitors’ spending, according to an economic impact analysis by a Clemson University researcher.
The upshot? The coliseum comes closer to paying for itself each year than it may appear.
It’s one more thing coliseum supporters can add to their arsenal of arguments that the extensive entertainment and event complex is worth what it costs the community.
For years, residents have grumbled about the city-run coliseum. In a typical year, the multi-venue complex’s revenue from things like ticket sales, concessions and parking fees will fall $1 million to $2 million short of covering its annual expenses.
Again I’m not sure that citing studies —one of which cost $14,000—- making the same ripple effect argument is going to influence many people. This is nothing we haven’t heard before. I understand that board chairman was coming to Matt Brown’s defense, but I have to wonder why the powers that be feel compelled to justify yet again the coliseum’s operating deficit. It could be because Gboro’s heading down the same road with the proposed downtown performing arts center, for which they make the same ‘ripple effect’ argument.
