Domed stadium touted for its economic benefitsPublished 12:13am Sunday, March 24, 2013
JACKSON (AP) — Jackson State University says building a domed stadium would create nearly $65 million in personal income and more than $7 million in revenue for the school in its first year of operation.
The claim was made in an economic impact analysis released Thursday by the university.
David Hoard, Jackson State vice president of institutional advancement, said the study shows a domes stadium would be an economic development engine for the community.
The analysis was performed by the state College Board based on data provided by Jackson State.
A bill that would have provided $75 million in bonds for construction on the stadium died in a legislative committee Feb. 27, the same day Hoard announced the project’s $200 million price tag.
But university officials are hopeful the Legislature will still find a way to provide the funding.
In a written statement, Jackson State said it would repay the money “by combining the projected General Fund revenue of $39 million from sales and other taxes, plus the amusement tax of $50 million over 20 years.”
Hoard also has said he has identified 13 other funding sources that could generate the needed revenue, including revenue from parking, naming rights for the stadium, sky-box suites, season tickets and concessions.