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Got A Letter From The Falcons Concerning The New Stadium


Nono
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Dear Falcon Season Ticket Buyer,

Earlier today, the Georgia World Congress Center Authority (GWCCA) Board approved a term sheet for the proposed new stadium on the GWCC campus. This is an important step toward reaching a final agreement, which we anticipate will occur in 2013.

A new stadium in Atlanta is important to the Falcons for a number of reasons: It will allow us to provide a league-competitive game day experience to our fans, and it will help the team remain competitive on the field over a long period of time. In addition, it puts into place a long-term solution following the expiration of our lease at the Georgia Dome.

But this new stadium is not just about the Falcons. It will be an iconic asset owned by the state that will provide economic benefits to our city, region and state. During the construction phase alone, the new stadium will add more than 4,500 new jobs to the state’s economy and generate more than $400 million in total economic impact, including more than $160 million in personal income.

In addition, a new stadium allows the city and state to remain competitive with other venues across the country in areas such as attracting new convention business, retaining events currently held in the Georgia Dome, hosting new marquee events in the future, and possibly adding Major League Soccer to Atlanta’s professional sports team mix.

All of these opportunities provide significant positive economic impacts for Georgia. For example, four of the Dome’s largest annual events – the SEC Championship Game, Chick-fil-A Bowl, Chick-fil-A Kickoff Game and Bank of America Football Classic – generate a combined annual economic impact of more than $100 million. And hosting marquee events such as a Super Bowl, World Cup and BCS Football Championship Game would have a combined potential to generate more than $450 million in economic impact.

The proposed financial arrangement for the new stadium is also beneficial to the state. Unlike the Georgia Dome, which was financed 100 percent with public money, the Falcons have agreed to fund about two-thirds of the cost of construction, as well as any cost overruns, with private dollars. In addition, the Falcons will take on the operating and capital risks that the state currently bears at the Georgia Dome. We are willing to do these things to ensure a great game day experience for our fans, and to be part of providing new opportunities to the city and state.

The public funding for the remaining one-third of the stadium construction costs will be covered by the existing hotel-motel tax, which is largely paid by visitors, not local residents. So, unless a Georgia resident stays in a hotel in the city of Atlanta or certain other parts of Fulton County, he or she will pay nothing in taxes to build the new stadium.

We are encouraged by today’s vote, and will continue to work in partnership with the GWCCA to reach a final agreement that is beneficial to all stakeholders, including the neighborhoods surrounding the new stadium. You can stay informed regarding our progress by visiting atlantafalcons.com and clicking on the link to the new stadium site.

We will strive to keep you informed of our progress along the way. Thank you for your support this season, and best wishes for a happy holiday season.

Sincerely,

Arthur M. Blank

Owner & Chairman

Atlanta

1 Georgia Dome Drive | Atlanta, GA 30313 US

Edited by Nono
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