A consultant for Hartford's city council says the baseball stadium development "has the potential to create a new neighborhood" with "considerable" benefits for the city.
The draft report was prepared by the Connecticut Center for Economic Analysis UConn's School of Business. It doesn't attempt to break down the financing structures and revenue assumptions tied to building the stadium, but rather it analyzes the economic impact of the proposal submitted by developers DoNo Hartford, LLC.
The draft report projects peak construction jobs of 1,806 in 2018, new employment of 1,078 jobs after construction is complete, higher personal income in the county, and additional "consumer power."
The details are below, as they read from the report:
The proposed Downtown North development has the potential to create a new neighborhood, focused around the ballpark, used both for Rock Cats games and other activities. When fully developed, the projected benefits for Hartford flowing from this project are considerable: • Peak annual jobs during construction of 1,806 in 2018 without special events; adding other events could generate significant additional employment; • Sustained additional employment in excess of 1,078 in Hartford County after construction without additional events; • Additional personal income in Hartford County of $100M to $150M, reaching the higher number depending on the value of special events making use of the facility; • Additional consumer power from additions to personal disposable income in Hartford County of $70M to $104M in 2021 and rising thereafter.
The city council meets Thursday afternoon to discuss the project.
