Professional sports, hurricane Katrina, and the economic redevelopment of New Orleans
In: Zur Ökonomik von Spitzenleistungen im internationalen Sport
Abstract"Hurricane Katrina devastated the city of New Orleans in late August 2005, resulting in damage to much of the city's sports infrastructure and the departure of both of New Orleans' major-league professional sports teams, the National Football League Saints and the National Basketball Association Hornets. What should the city provide in the way of financial accommodation to encourage them to return? This paper suggests that post-Katrina New Orleans will have a difficult time retaining their franchises over the long run and in attempting to do so may hinder the redevelopment of the city. Furthermore, the very incentives designed to attract teams in the first place leave cities vulnerable to their departure in times of crisis. Finally, playing host to professional sports and mega-events does have symbolic significance, but it is arguable that this is an amenity the city cannot currently afford. "("JEL "H25, H71, H40, L83, Q54) Copyright 2007 Western Economic Association International.
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This item is provided by Hamburg Institute of International Economics (HWWI) in its series Edition HWWI: Chapters with number 61514.
Other versions of this item:
- Robert A. Baade & Victor A. Matheson, 2007. "Professional Sports, Hurricane Katrina, And The Economic Redevelopment Of New Orleans," Contemporary Economic Policy, Western Economic Association International, vol. 25(4), pages 591-603, October.
- H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
- H71 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Taxation, Subsidies, and Revenue
- H40 - Public Economics - - Publicly Provided Goods - - - General
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
- Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters
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