How much could a Browns Brook Park move cost Cleveland and Cuyahoga County?
CLEVELAND, Ohio - A new economic impact study done by ESI Econsult Solutions Inc. based in Philadelphia shows that the millions dollars in economic impact from a Browns move to Brook Park would effect Cuyahoga County and the State of Ohio negatively.
The study, which analyzed current business from a Downtown Cleveland stadium to the potential business displaced by the new Brook Park stadium shows that the City would lose “at least” $30M annually in direct, indirect and induced economic output. The move would also displace 360 jobs. In addition, the study anticipates that a Brook Park stadium would “shift economic activity outside of Cleveland, and thus not generate new economic and fiscal impacts to the County or State”.
The Browns have said that a domed stadium in Brook Park would lead to “50 annual events” at the site. According to ESI, similar domes in similar markets only see between four and twelve larger events per year outside of NFL games. For the Browns to add an addition 30+ events, they would need to take them away from other Cleveland spaces.
An example of this being an event like the MAC basketball championship. Held annually at Rocket Mortgage FieldHouse, if that is moved to the new dome in Brook Park, that would take away revenue from downtown Cleveland and Rocket Mortgage FieldHouse. The study says “therefore, the combined losses in economic activity to the City from losing Current Stadium and major venue patronage would more than double”.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
It’s official: Cleveland Browns moving to Brook ParkWhile the team’s lease at Huntington Bank Field is up in 2028, the Browns will build a state-of-the-art facility in Brook Park.
Read more »
Browns leaving Downtown for Brook ParkJoe Donatelli is the Digital Director at News 5 Cleveland.
Read more »
Browns to Move Out of Cleveland, Build Domed Stadium in Suburb of Brook ParkThe team has played in the city since its 1999 return.
Read more »
Cleveland Browns leaving Cleveland for Brook Park, mayor announcesMayor Bibb announced the move Thursday, after months of negotiations failed to deliver an agreement between the city and team owners.
Read more »
Browns say they’re leaving for Brook Park: The Wake Up for Friday, Oct. 18, 2024The Browns intend to leave the city of Cleveland for a new stadium in Brook Park.
Read more »
Social media reacts: Cleveland Browns moving to Brook ParkCleveland Browns fans took to social media Thursday to express their opinions after it was announced that the team was leaving downtown Cleveland for a state-of-the-art facility in Brook Park, Ohio.
Read more »