Study identifies potential economic impact of downtown entertainment & sports complex
The Downtown Sacramento Partnership (DSP), in collaboration with a consulting team from the UC Davis Graduate School of Management, released a report on the potential economic impacts of an Entertainment and Sports Complex (ESC) in the Railyards earlier this month. The report suggests that a well-integrated complex with parallel investment in Downtown’s core assets, including Old Sacramento, Downtown Plaza, JKL Retail Corridor, and the Convention Center, will maximize economic impact and strengthen the surrounding neighborhood.
“We believe that an Entertainment and Sports Complex belongs Downtown and has the potential to stimulate economic activity,” said DSP Executive Director Michael Ault. “In cities like Denver and Indianapolis, development of these venues has been used as a tool to accelerate and compliment revitalization efforts.”
According to the study, transportation access and connectivity, public safety, and local business development in conjunction with reinvestment in the Downtown District are major factors in the future success of an ESC at the Railyards.
The report cites several case studies of both successes and failures of Downtown ESCs throughout the country. Indianapolis, which used ESC development as part of a long-term downtown revitalization strategy, reported a 78% increase in annual downtown visitors compared to 15 years ago. In contrast, Baltimore failed to connect two sports stadiums at Camden Yards and as a result experienced no additional development or revitalization in nearby neighborhoods.
“As the ESC discussion moves forward, this analysis will be a very effective tool to communicate priorities for future development,” said Ault. “It also supports the case for continued investment in Sacramento’s core assets and the Downtown District.
A full copy of the report is available for download at www.downtownsac.org.