With just under a month to go, TheStadiumBusinessSummit 2014 is delighted to welcome representation from the Atlanta Falcons, USA, following the recent unveiling of design concepts for the brand new, super-size stadium which will replace the Georgia Dome.
A new era for the Atlanta Falcons
The new stadium project is said to take into consideration the best interests not only of the Falcons, but of the Georgia World Congress Center Authority (GWCCA) and its other customers, the city of Atlanta and the state of Georgia.
The primary goals are to create a long-term stadium solution that allows the Georgia World Congress Center to remain competitive in retaining and attracting premier events to its campus; to address a long-term solution to the approaching expiration of the Falcons’ lease at the Georgia Dome; and to continue a partnership with both parties far into the future.
The new stadium will cost roughly $1.2 billion with the state of Georgia owning an asset at about 20-30% of its cost. The public funding portion of the stadium construction will come from an existing hotel-motel tax that is largely paid by visitors, not local residents. Georgia residents will not contribute to the new stadium construction unless they stay in a hotel/motel in the city of Atlanta or certain other parts of Fulton County.
A brighter future
Over the three-year construction period, the project is estimated to add more than 1,400 full-time equivalent new jobs to Atlanta and more than 4,500 new jobs to the state’s economy. The project will generate more than $150 million and $400 million in total economic impact to the city and state, respectively, including more than $72 million and $160 million in personal income, respectively.
Just to put things into perspective on the sheer size of the new stadium:
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