First step to sticking the public with the bill for another shiny new sports or tourism related project for Charlotte, preferably uptown?
Hire UNC Charlotte economics professor John Connaughton to conduct one of his economic analysis “studies.” In the last two decades, Connaughton has never given a thumbs down to anything the shiny shoes wanted to build here with public money. His most recent fiasco was his NASCAR museum “study,” which he said used “conservative” numbers at the time.
The study estimated the NASCAR Hall of Fame would generate $62 million annually for the Mecklenburg economy, support 748 new tourism-related jobs and would have a sunny economic picture that included a positive cash flow. That’s not even close to how things turned out. The hall of fame lost $1.4 million the first year and public officials are currently struggling to figure out how to get the thing to at least break even as it goes down in flames.
Left unscathed? John Connaughton, as usual.
But that’s the beauty of being John Connaughton. No one ever holds you accountable for these studies, no matter how badly you screw up your economic predictions.
He’s at it again, with the usual uncritical varnish applied by the Charlotte Observer.
In this study, he claims that Charlotte’s sports teams and special events like golf tournaments support more than 23,000 jobs and are an “economic and tourism engine.” The study was funded by the Charlotte Sports Commission, which wants $6 million to $11 million in public money from the city for a new Knights AAA baseball stadium uptown.
“Jeff Beaver, executive director of the Charlotte Sports Commission, which hired Connaughton, said the study could help show the economic benefits of the Knights and other sports teams,” the Observer reports. It might “make the decision (for an uptown stadium) easier.”
Uh-huh. You never know. Maybe this study is accurate. Or maybe it was cooked up at Hogworts.