Braves Move Likely To Cost Atlanta Millions in Tax Revenue
Central Atlanta Progress
The city of Atlanta stands to lose $4 million in annual tax revenue and more than 1,000 jobs if and when the Braves leave for Cobb County, according to a 2012 study.
Georgia State University economics professor Bruce Seaman was hired by the team to come up with the figures.
“It’s a huge regional fan base and it is bringing in money from both the suburban areas and outside the state into downtown. Part of that will continue, I believe, but it will be a serious challenge for that area if the Braves leave,” said Seaman.
He determined the Braves’ overall impact on the city economy to be in the neighborhood of $105 million annually.
Despite the citywide hit, Seaman said a possible upside could be a renewed focus on the neighborhoods surrounding Turner Field.
“Let’s face it, this was not a great success story for the immediate surrounding neighborhood. If there’s a saving grace to this it’s that the mayor’s office, and the mayor personally, is clearly now more energized than ever to try and make something good out of this,” said Seaman.
Mayor Kasim Reed says Turner Field will be demolished after the Braves relocate. He has vowed to help redevelop the area into a destination for middle-class families.
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