The City of Colorado Springs released an economic feasibility study, “Market & Economic Impacts of Relocating Sky Sox Stadium to Downtown” on Monday.
The City hired Summit Economics, LLC earlier this year to forecast the impact of a downtown stadium and multi-use event center in the Springs. The study states that the economic and fiscal impacts for the city as a result of a new stadium would be driven primarily by out-of-town visitors.
The study estimates that a new downtown baseball stadium could increase local jobs by 224 and that those new jobs could create an approximate $6 million in household earnings.
Total construction costs for a new stadium are expected to be approximately $60 million, creating 440 direct jobs and another 221 indirect jobs for the 1 year construction period, and more than $1 million in City sales tax revenues.
The complete feasibility study will be released on Monday, July 8 following the formal submission of the city’s application to the State of Colorado under the Regional Tourism Act. The application includes a proposal for four major projects that would increase tourism from out-of-state.
We're reading over the study today and we'll let you know what we find out.