The vast majority of studies done on the financial benefits of new sporting facilities by researchers not connected to any sport, league, or team have not found any economic boost for cities, experts say.
I guess those experts don’t get hired to do a lot of feasibility studies for the City of Thunder Bay…or the Thunder Bay Art Gallery for that matter.
The City of Thunder Bay and the boosters of spending a $106 million on a hockey rink always make the argument about all the economic benefits that will rain down on Thunder Bay for all of eternity.
Why then does every report contain the cover-your-ass page? You know the page where the consultants says that none of the predictions in the previous pages of the report are not guaranteed? They may not materialize?
The following is page 99 of the Phase 2 Feasibility Study
4. Information furnished by others upon which all or portions of this report are based, is believed to be reliable, but has not been verified in all cases. No warranty is given as to the accuracy of such information.
5. Our report and work product cannot be included, or referred to, in any prospectus, securities and exchange commission filing or other public or investment document.
Those are just two examples of the Limiting Conditions of the Phase 2 Feasibility Study.
The whole economic boom prediction is not true but since when has the truth ever stood in the way of City Hall feeding taxpayer cash to their consultant/contractor cronies?