Publicly-funded stadium projects are, in general, a racket. The taxpayers are promised a shiny, new building and a winning franchise, and the team owners get off ponying up just a portion of the total costs. Ostensibly, because the new facility will have a positive economic impact on the area, we all prosper and live happily ever after, the end.
Yeah, it doesn’t work that way. Taxpayer-subsidized undertakings such as these are a boon to the franchise, and the local politicians who orchestrate the whole deal probably makes a few bucks off it, but for everybody else, it’s a monumental waste of resources. Which should make the residents of New York City feel pretty good about the new Yankee stadium, set to open next year.
The new Yankee stadium got up to $850 million in taxpayer investments but will create just 15 permanent jobs, a scathing new report charges.
Assemblyman Richard Brodsky (D-Westchester) will release the 30-page “House That You Built” report today; it comes as the team finishes its final home stand at its old historic ballpark. …
It slams the city Industrial Development Agency, saying it “may have violated existing law in its creation of massive amounts of public debt and its failure to assure public benefits from the massive taxpayer investment.”
Hopefully one of those jobs is for “starting pitcher.” And as long as we’re wishing for stuff, go ahead and allocate another FTE to “manager.” No need in half-assing it.
In the interest of fairness, Yankees spokeswoman Alice MGillion calls Brodsky a lying attention-grubber. “Assemblyman Brodsky has never let an accurate fact stand in the way of his grandstanding in a press release or press conference.” No idea who’s telling the truth, but you can be assured of one thing: the fans are getting screwed.