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Economic Impact of the redevelopment of the Hartford Civic Center

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  • Kathryn Parr
  • William Waite

Abstract

Opened in 1975, the hartford civic Center was home to the NHL first level team, the Hartford Whalers, and hosted University of Connecticut basketball. This CCEA study demonstrates that the NESE redevelopment plan will increase employment by 1202?1449 annually, on average. Real Gross State Product, a measure of total economic activity, will be $45.7 to $58.4 million higher on average. Net State Revenues will be $7.4 to $8.4 million higher per year. This represents a net present value of $58.3 to $66.6 million net state revenues over a 10 – year time horizon. A more realistic bonding horizon of 20?years gives a net present value of $83.6 to $94.3 million

Suggested Citation

  • Kathryn Parr & William Waite, 2011. "Economic Impact of the redevelopment of the Hartford Civic Center," CCEA Studies 2011-November-01, University of Connecticut, Connecticut Center for Economic Analysis.
    • Handle: RePEc:uct:cceast:2011-nov-01
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    File URL: http://ccea.uconn.edu/studies/HartfordCivicCenter-Redev-EconImpact_2011nov.pdf
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    More about this item

    Keywords

    convention center development; return on investment.;

    JEL classification:

    • R53 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Public Facility Location Analysis; Public Investment and Capital Stock

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