Transform the City of Waco Through Economic Development
McLane Stadium will be a catalyst for economic development along the Brazos River and will continue progress underway throughout downtown Waco. The stadium will be the largest project in Central Texas history and has the potential to transform the city. New hotels, restaurants, and shops will all provide entertainment for game-day crowds.
Any economic stimulus or expansion generates spinoff effects which ripple through the economy. The new stadium and related development will lead to positive effects on business activity in the Waco area during the construction process, ongoing operations of the stadium itself as well as new restaurants, retail stores, and hotels. The enhanced venue will also lead to incremental spending by additional visitors and those who presently attend games.
This direct stimulus increases business activity across a spectrum of industries through purchasing of goods and services. Because of this chain of multiplier effects, the total economic benefits are much larger than the initial stimulus, spanning a broad array of business and stemming both from increased purchases, higher payrolls and, hence, consumer spending.
As a result of the gains in business activity associated with the stadium complex, tax receipts to local entities would also rise. In fact, adding local tax receipts during construction and for the first 20 years of operations (on a net present value basis) yields a total of approximately $10.625 million.
Even beyond these significant economic benefits, the stadium complex will also have synergies with other development, increase exposure, and enhance economic development. In particular, it will be a catalyst and synergetic component of other proposed projects along the Brazos River corridor.
Will create nearly 6,000 jobs the first year alone.