Charts show the effects of a new Sixers arena on tax revenue, Chinatown, and concerts.
The city this week released four long-awaited impact studies that aim to help decision-makers determine whether a new downtown Sixers arena would create aon Center City streets. The studies include multiple charts to support their conclusions, some of which differ markedly from previous studies commissioned by Sixers ownership and Comcast Spectacor, whose Wells Fargo Center would suffer if the Sixers leave for downtown in 2031.
Here are some charts with key conclusions from the new reports, and how they compare with some earlier studies.According to the city’s economic-impact study, conducted by CSL International, a new downtown Sixers arena would generate nearly $400 million in new tax revenue over 30 years to the city, state, and School District of Philadelphia. The revenue figures are based on 30-year estimates of $1.
The report cites the new arenas that have opened in the New York area to counter the argument that adding a downtown Sixers arena would oversaturate the Philadelphia market. The New York area already had Madison Square Garden in Manhattan and Prudential Center in Newark, N.J., splitting concerts when Barclays Center opened in Brooklyn in 2012. By 2019, the number of concerts in the area had grown to 174, compared with 61 in 2011.
The study commissioned by Comcast Spectacor has a different take. The New York market is an outlier, with no other metro area in the region coming close to its size and influence. Additionally, no other city in the country had two major professional sports arenas with the same city limits until Intuit Dome opened in Los Angeles this year.
The scenario of manageable traffic near a new Sixers arena also came with a warning. According to the report, even marginal increases in the share of auto trips “would result in gridlock at critical intersections.
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