By Khalida Sarwari
The construction and operation of a professional baseball stadium in San Jose could potentially generate nearly 1,000 new jobs and $130 million in economic benefits, according to a new report released today.
The “Economic Impact Analysis: Proposed Major League Ballpark” report, presented by consulting firm Conventions Sports & Leisure International to the city’s redevelopment agency, indicates that a ballpark could bring in about $5 million in annual revenue for the local economy,
generating about $3 million in annual tax revenue for the city. Santa Clara County schools and agencies would receive about $2 million annually, according to the report.
Nearly 1,000 jobs would be created by the construction of a fully operational 32,000-seat ballpark in 2014 designed for the Oakland Athletics.
Mayor Chuck Reed today said he was pleased with the report.
“It’s a good solid report that is cautious in its assumptions,” Reed said. “I think it’s important to under promise and over perform and I think that philosophy is reflected in this report.”
Reed said the report shows that a city with a “tremendous corporate presence” would benefit from a privately built and operated stadium.
“It would be nice to have a baseball team,” Reed said. “My job is to get San Jose ready so that we are in the best position possible.”
The 14-acre city-owned site under consideration in the Diridon Station neighborhood has already undergone an environmental impact report and conceptual analysis.
Reed said the city is waiting for Major League Baseball to study the issue of territorial rights, which dictate San Jose is still San Francisco Giants country. A committee appointed by Commissioner Bud Selig has not announced when it will make a final ruling.
The San Jose City Council will discuss the report at a meeting on Sept. 15.