‘Hogwash: Why the Washington Redskins aren’t worth $10 million to Richmond’

Style Weekly

November 13th, 2012 by 

In an article in Style Weekly, Victor Matheson, associate professor of economics at the College of the Holy Cross, commented on the financial impact of the NFL’s Washington Redskins’ new summer training camp facility located in Richmond, Virginia.

While the cost of these new facility totals $10 million, city and team officials claim the Redskins’ training camp will draw an estimated number of 100,000 tourists to Richmond, leading to a profit of $8.5 million per year. However, as Matheson suggests, the numbers don’t quite add up.

“Even if it is 100,000 people, the chances of it being [a] significant economic impact is pretty low,” he said, explaining that the number of fans who visit training camp will most likely not be from out of town, meaning Richmond will not actually turn a profit.

“If you are really getting 40,000 new people to stay in hotels overnight, then this really is an economic generator,” Matheson continued. “But you should always take such claims with a grain of salt.”

This ‘Holy Cross in the News Item’ by David Cotrone ’13.

| More
Tags
Categories
In The News

Comments are closed.

Sort By:
or
10/21/14 ‘US public schools are better than they’ve ever been’
10/17/14 Holy Cross Marks 25th Anniversary of El Salvador Murders With Series of Events
10/15/14 Grammy-Winning Holy Cross Professor to Give Talk on ‘The Birth of Stereophonic Recording’
10/15/14 ‘The Bottom Line: helping Worcester students obtain collegiate and professional success’
See All
See All

Featured Videos

See video
Artist-in-Residence Cristina Pato and Renowned Composer Osvaldo Golijov to Lead Concert and Panel Discussion

Watch Video >
See video
Environmental Champion Slottje ’89 on Crusade to Protect America Against Fracking

Watch Video >
See video
Strong Alumni Support Makes for Record-Breaking Year in Giving to Holy Cross

Watch Video >
More

What’s Happening on Campus

10/23/2014

Celebrating 50 Years of Student Affairs at Holy Cross

See More >
10/25/2014

Craft Demonstrations by Refugee Artisans of Worcester

See More >
10/25/2014

Tableaux Vivants of the Italian Presepe

See More >
10/28/2014

Dinand in the Dark

See More >
More

Holy Cross in the News

10/10/14

‘Holy Cross’ Sean Gustin never rests’

Worcester Telegram & Gazette

The Worcester Telegram & Gazette profiled College of the Holy Cross student Sean Gustin ’16  as a stand out scholar- athlete who is a member of both the Crusader...

10/06/14

‘Any way the wind blows’

Worcester Telegram & Gazette

The Worcester Telegram & Gazette recently featured a photo gallery of the first annual New England Collegiate Marching Band Festival, hosted by the College of the Holy...

09/22/14

‘Tesla’s removal of patent restrictions a boost for electric cars’

Worcester Business Journal

In an op-ed for the Worcester Business Journal, Christine Fimognari ’15 discusses a decision by Tesla, a manufacturer of electric cars, to remove patent restrictions in the...