Latest news with #SethWalsh
Yahoo
26-03-2025
- Business
- Yahoo
A new arena without a main tenant to fill the seats is a billion-dollar gamble
I read Cincinnati City Councilman Seth Walsh's op-ed on the urgent need for an expanded arena, and I support the urgency and the economic benefits. That being said, he missed an opportunity as an elected official to clarify where it should be and how the cost should be justified, including who will be the host team that will generate the revenue to build the arena. Simply hosting March Madness a couple of times a decade, or a similar high-profile event in between, like a national convention for the President of the United States, along with Cincinnati Cyclones, will not be sufficient. We need to start exploring the host because a plan of "build it and they will come" would be foolish. More: Mayor, challengers spar over city manager, arena, infrastructure in Enquirer debate This is a billion-dollar-plus question. Given the recently built Intuit Dome Arena in Los Angeles, which hosts the NBA's L.A. Clippers, cost $2 billion, we need to understand a competitive arena will be at least a billion dollars. More: Arena advocacy group launches petition, doesn't share financial backers If we want to move forward on this new arena, we first need to find a host team or a consistent draw that will fill the seats. The location is also key. The Banks is at risk of being a complete failure as a "neighborhood" if we don't maintain a year-round draw of visitors who will also be customers to the local businesses at The Banks. Before we get the proverbial cart before the horse, we need to have a serious discussion of what team or alternative business model will keep the lights on year-round. Brian Frank, Mt. Adams (Editor's note: Brian Frank is running for Cincinnati mayor in 2025) This article originally appeared on Cincinnati Enquirer: A new Cincinnati arena without a committed team is a mistake | Letters
Yahoo
17-03-2025
- Business
- Yahoo
No arena, no March Madness, no more excuses. Stop letting Cincinnati lose.
This weekend, as March Madness tips off, millions will tune in to watch college basketball players seek their "One Shining Moment." The buzzer beaters. The Cinderella runs. The drama. Even casual fans will fill out brackets, only to feel the heartbreak of a surefire Final Four pick losing to a double-digit seed. Living rooms and bars will be packed with alumni reliving their college years. Offices will buzz with friendly banter as coworkers enter the annual bracket pool and sneak glances at games throughout the day. And fans across the country will travel to host cities − cities that embrace this madness − hoping that their team will make history. Those fans will be booking hotel rooms. Dining out before the games. Buying rounds to celebrate − or to drown their sorrows. Exploring the host city that will be their home for the weekend. But once again, none of those host cities will be Cincinnati. And that should make us upset. More: 'The opportunity Cincinnati is missing': New group launches to push for Downtown arena This isn't just about seeing "Cincinnati, OH" on the bottom of the screen during broadcasts, though that exposure would be fantastic for our region. This is about the massive economic impact we leave on the table every single year because we lack the facilities to host March Madness − and so many other events that could bring national attention, tourism, and revenue to Cincinnati. It's time for our region to step up, as we have so many times before, and build an arena. Other cities have figured this out. When Cleveland hosted the Women's Final Four just last year, the city saw a direct economic impact of $32 million − even higher than projections. Columbus, our natural rival, hosted the Women's Final Four in 2018 and is set to do so once again in 2027. Indianapolis, our neighbors to the West, will host the following year in 2028. Meanwhile, Cincinnati sits on the sidelines, watching our regional peers − Cleveland, Columbus, Indianapolis, Pittsburgh, Louisville, Lexington…even the annual First Four in Dayton! − capitalize on their investment in modern infrastructure to host the men's and women's tournament. How long will we continue a debate where the answer is clear? A study led by the Cincinnati Chamber found that a new arena would not only be profitable (generating $5-6 million annually) but would also bring an average economic impact of $22.6 million per year and create 231 new full-time jobs. While there are still questions about where an arena should go and how to fund it, three things are clear. It's time for March Madness to come to Cincinnati. It's time to stop debating a settled issue. It's time to build an arena. Councilman Seth Walsh is in his third year on Cincinnati City Council. Before his time on City Council, Walsh worked in community economic development in the neighborhoods of Sedamsville and College Hill, leading the effort to revitalize the College Hill Business District as the executive director of the College Hill CURC. This article originally appeared on Cincinnati Enquirer: Cincinnati keeps losing big. It's time to build a new arena | Opinion
Yahoo
05-03-2025
- Business
- Yahoo
Williams: Why not take Cincinnati Reds, Bengals stadium tax back to voters?
Ask columnist Jason Williams anything − sports or non-sports – and he'll pick some of your questions and comments from his inbox and respond on Email: jwilliams@ Message: How about letting Hamilton County residents vote on the stadium tax again? Cincinnati, as a city, does benefit from having the (Bengals), but not necessarily do the residents. For those of us living in the burbs, we get nothing but another tax to pay. I want another opportunity to vote on it. Reply: Interesting you bring this up. There is an influencer movement afoot to start a conversation about potentially taking the stadium tax back to the voters once the original debt to build Paycor Stadium is paid off in 2032. The idea is being floated by some proponents of a new arena. Take the stadium tax back to the ballot, only this time include funding for a new arena in addition to ongoing money for the Reds and Bengals venues. Cincinnati City Councilman Seth Walsh, a new arena proponent, and I talked about this on my 700 WLW radio show last Saturday night. I'm not sure the math would work out to squeeze in arena funding, considering the cost to upgrade Paycor Stadium alone is projected to be around $1 billion. And it won't be too long before the Reds come asking for major upgrades to Great American Ball Park, which opened in 2003. Hard to see the Bengals and Reds going for sharing the stadium tax money with another venue. But it's merely an idea right now and at least deserves to be heard before rushing to judgment. As is, the half-cent sales tax – which voters approved in 1996 specifically for the two stadiums – does not have a sunset clause and would take a vote of the Board of Commissioners to turn off the never-ending money spigot. This article originally appeared on Cincinnati Enquirer: Is Reds, Bengals stadium tax way to pay for new Cincinnati arena?
Yahoo
05-03-2025
- Business
- Yahoo
Williams: Why not take Cincinnati Reds, Bengals stadium tax back to voters?
Ask columnist Jason Williams anything − sports or non-sports – and he'll pick some of your questions and comments from his inbox and respond on Email: jwilliams@ Message: How about letting Hamilton County residents vote on the stadium tax again? Cincinnati, as a city, does benefit from having the (Bengals), but not necessarily do the residents. For those of us living in the burbs, we get nothing but another tax to pay. I want another opportunity to vote on it. Reply: Interesting you bring this up. There is an influencer movement afoot to start a conversation about potentially taking the stadium tax back to the voters once the original debt to build Paycor Stadium is paid off in 2032. The idea is being floated by some proponents of a new arena. Take the stadium tax back to the ballot, only this time include funding for a new arena in addition to ongoing money for the Reds and Bengals venues. Cincinnati City Councilman Seth Walsh, a new arena proponent, and I talked about this on my 700 WLW radio show last Saturday night. I'm not sure the math would work out to squeeze in arena funding, considering the cost to upgrade Paycor Stadium alone is projected to be around $1 billion. And it won't be too long before the Reds come asking for major upgrades to Great American Ball Park, which opened in 2003. Hard to see the Bengals and Reds going for sharing the stadium tax money with another venue. But it's merely an idea right now and at least deserves to be heard before rushing to judgment. As is, the half-cent sales tax – which voters approved in 1996 specifically for the two stadiums – does not have a sunset clause and would take a vote of the Board of Commissioners to turn off the never-ending money spigot. This article originally appeared on Cincinnati Enquirer: Is Reds, Bengals stadium tax way to pay for new Cincinnati arena?
