Does anyone know what type of annual financial impact the Jaguars have on Jacksonville? I've searched, but can't find any numbers. Some of my doucher friends think Jacksonville would be better off without the Jaguars. Of course, I think they're crazy, but would love to be able to supply some facts to back up my side of the argument.
For one, I think EverBank would become a delapitated eyesore without regular events taking place in her. My friends theorize there would be enough outside events to keep it running.
We are employed by our local government, and I always hear, "If the city wasn't paying the Jaguars all of that money, they wouldn't have to take so much from us!" I try to tell them the Jaguars are not taking anything from us. There are different priorities and revenue streams from which certain monies are derived.
Maybe I'm wrong, but I just can't see the city being better off without one of the 32 NFL teams in the entire world.
It would leave a hole both financially and in the city's social consciousness. It brings revenue to businesses nearby on game day (think hotels, restaurants, people who open their lots to parking, gas stations, etc).
These humans you speak of, you really call them your friends? Poor guy.
I think you'd be better off arguing with a rock rather than a few brainless individuals about anything concerning the Jacksonville economy. Even if you do present facts, they're totally gonna go badger on you and tell you your wrong, even though they have done no research.
Anyway, I'll give it a google and see what we come up with.
Quote:<b>4. NFL teams are a boon to local economies.</b>
The NFL and its boosters portray the league as the ultimate job creator. A USA Today story cited a study — commissioned by the NFL Players Association — claiming that the league “supports about 110,000 jobs in NFL cities” and that games add “about $5 billion” to local economies.
Sounds impressive!
But check the fine print. Smith College economics professor Andrew Zimbalist and his colleagues have long argued that the “economic impact” studies commissioned by the NFL and its potential host cities to drum up support for new stadiums are essentially propaganda. He and 16 collaborators compared the economies of cities with new stadiums with those of cities that invested in other forms of economic development. Across the board, the economists found that the sports facilities produced “an extremely small (perhaps even negative) effect on overall economic activity and employment.”
A study by financial-services firm UBS concurred: “Independent academic research studies consistently conclude that new stadiums and arenas have no measurable effect on the level of real income or employment in the metropolitan areas in which they are located.” The reason for this has a fancy name (“the substitution effect”), but it’s pretty simple: People tend to spend consistent amounts of money on entertainment. Football doesn’t increase that net economic activity in a city; it merely channels it into football-related endeavors.
The NFL offers a feast-or-famine model of economic development. Rather than supplying year-round jobs, the league creates 10 or so mega-events annually (i.e. home games) during which the city adds a large number of temporary, low-wage jobs. But even such events can have a downside. As UBS noted, “Sports fans tend to displace other visitors.”
https://www.washingtonpost.com/opinions/...story.html
I doubt most Americans would know Jacksonville FL was a city if there were no Jaguars.
The NFL has a unique impact in our city, and probably a few others, that won't be felt by the big guys like NYC.
Quote:<a class="bbc_url" href='https://www.washingtonpost.com/opinions/five-myths-about-the-nfl/2014/09/18/dc83a464-3deb-11e4-b03f-de718edeb92f_story.html'>https://www.washingtonpost.com/opinions/five-myths-about-the-nfl/2014/09/18/dc83a464-3deb-11e4-b03f-de718edeb92f_story.html</a>
Your blog link is about building new stadiums. Not really what we are talking about here. Anyways, the Jags don't own the stadium, so the city is getting paid rent if nothing else. I believe the city has some rights to some other accessorials--perhaps parking or a percent of concessions. Less obvious revenue streams is name recognition, ie putting our city on the map. It's an attraction. I know the team is a top 3 reason for why I remain in town. It's different for every city I'm sure. The NFL is not a drag on the economy by any means.
Jags are good for Jax, that is all. You post links and blogs all day.
Don't ask MetroJacksonville. If you listened to them, you'd think Jacksonville would be an urban mecca with streetcars and skyscrapers without the Jaguars.
Quote:I doubt most Americans would know Jacksonville FL was a city if there were no Jaguars.
Yeah I agree. I don't want to dispute the issues brought up in the article cland linked, because they are valid, but they are leaving out other variables.
When the Jaguars get back to being in the national spotlight on a regular basis, it will be a great tool for advertising the city to out-of-market potential consumers. And what about fans of other teams that travel to away games spending their money here? What about the millionaires that the team creates that live here and spend their money here during the season if not all year long?
In short, I don't think the impact an NFL franchise has on a city is automatically positive or negative. I do think the Jaguars have a positive impact on Jacksonville, however.
Quote:Does anyone know what type of annual financial impact the Jaguars have on Jacksonville? I've searched, but can't find any numbers. Some of my doucher friends think Jacksonville would be better off without the Jaguars. Of course, I think they're crazy, but would love to be able to supply some facts to back up my side of the argument.
For one, I think EverBank would become a delapitated eyesore without regular events taking place in her. My friends theorize there would be enough outside events to keep it running.
We are employed by our local government, and I always hear, "If the city wasn't paying the Jaguars all of that money, they wouldn't have to take so much from us!" I try to tell them the Jaguars are not taking anything from us. There are different priorities and revenue streams from which certain monies are derived.
Maybe I'm wrong, but I just can't see the city being better off without one of the 32 NFL teams in the entire world.
I hope your friends are not pursuing an academic career in economics or pursuing a future in the finance industry.
At one point in time Jacksonville was compared to Charleston,SC & Birmingham, AL.
Quote:Don't ask MetroJacksonville. If you listened to them, you'd think Jacksonville would be an urban mecca with streetcars and skyscrapers without the Jaguars.
Haha so true.
Streetcars will solve all of our issues!
Honestly, if you just at the pure monetary value, income versus expenses then I have no doubt the Jaguars cost more then they produce. But the impact of the franchise goes much farther then just financial gains. Especially since the Jaguars are the only major sports franchise in the city. Without the Jaguars Jacksonville would be nothing more than a stop over on I-95. between Miami and Washington.
Businesses and city leaders are the main benefactors. Growth in businesses in turn with produce net gain in job opportunity.
Evidence indicated that the rate of growth for Jacksonville has increased much faster since the Jags came. The population has grown significantly. But we all have to pay a price for that: higher taxes, more crimes, more traffic... You gain some you lose some.
Do they have to have a net positive financial impact? Can't we just say we enjoy having them here? Can't we just say we're a bunch of football fans and this is our favorite toy?
Like others have said, it's impossible to put a true number on what the team brings. It brings more than just $$$. It's makes the city attractive to potential residents and consumers at the very least.
Jacksonville would be closer to Cowford without the Jaguars. Brings some pretty big bucks to the town.
Quote:I hope your friends are not pursuing an academic career in economics or pursuing a future in the finance industry.
At one point in time Jacksonville was compared to Charleston,SC & Birmingham, AL.
That is the way I describe Jacksonville without the Jaguars. Birmingham.
IMO I think it varies by community but generally speaking it probably has only small positive affect. However specifically to Jax I think overall it has been pretty positive. Look at growth in many area's since Jags came. You could argue that it would have occurred anyway. I have been in Jax a long time and would not agree. Looking at just one industry the restaurant industry before Jags there was slim pickings other than fast food.Now lots of choices at all price ranges much less upscale choices which there was really none other than handful of local unknown spots. The worldwide exposure probably caused most of the extra growth because it tilted companies to make decisionsthey might not have made otherwise.
Found this after quick search.
The Impact of Professional Sports Franchises on Local Economies
http://digitalcommons.bryant.edu/cgi/vie...athematics
CONCLUSION All of the evidence that has been examined throughout this paper clearly shows that, by and large, professional sports franchises do not have a significant impact on their local economies. Many people do not realize this because they get caught up in the emotion and excitement of having a professional sports franchise to cheer for in their own town. They also do not realize all of the costs that are required to run a franchise. A sports team is like any other company in terms of its economic impact, and a single company is not going to swing the entire economy one way or the other. Since the modern trend in sports today is publicly financing stadiums, it is especially important for the average citizen to be aware of the impact that a new stadium could have on their city. Politicians and governments need to be held accountable and responsible when considering proposals for new stadiums, because often times the costs are underestimated. Do not get caught up in the hype of a new professional sports franchise or a new stadium. Voice concerns to local politicians and make sure that they are aware of all of the costs and benefits included in these types of projects. Sports are a wonderful thing that we all love, but like anything else, they are first and foremost a business.
Quote:Does anyone know what type of annual financial impact the Jaguars have on Jacksonville? I've searched, but can't find any numbers. Some of my doucher friends think Jacksonville would be better off without the Jaguars. Of course, I think they're crazy, but would love to be able to supply some facts to back up my side of the argument.
For one, I think EverBank would become a delapitated eyesore without regular events taking place in her. My friends theorize there would be enough outside events to keep it running.
We are employed by our local government, and I always hear, "If the city wasn't paying the Jaguars all of that money, they wouldn't have to take so much from us!" I try to tell them the Jaguars are not taking anything from us. There are different priorities and revenue streams from which certain monies are derived.
Maybe I'm wrong, but I just can't see the city being better off without one of the 32 NFL teams in the entire world.
Your friends clearly don't understand where the bulk of the money coming from the city to the Jaguars comes from. There is a specific bed tax that was put in place years ago to fund the maintenance of the sports complex. The stadium gets the lion's share of that money because they're the biggest draw. That money can't go to anything BUT the sports complex, so your co-workers aren't missing out on a single penny of income.
EverBank has seen more and larger events since the current regime took over from the Weavers. They are doing the booking of events because it helps their revenue stream. If the Jaguars weren't there, odds are the stadium never would have been renovated to the level it has, and as such, a lot of events that have been booked in recent years would have sought other venues.
The city is better off WITH the NFL franchise and the attention that brings to Jacksonville. Anyone who thinks otherwise is just upset that the Gators or Noles aren't the #1 priority in this region as they were 20 years ago.
It's difficult to get a pinpoint on what kind of overall economic impact the team has had since entering the league, but one thing is for certain. The city hasn't lost a penny having the team here, and the publicity it has gained as a result of being an NFL city certainly doesn't hurt. One thing that isn't taken into account is the impact having an NFL franchise has on local charity organizations. Ask them what the impact is, and you'll find out just how important the Jaguars are to the existence of many charities.