OAKLAND -- The A's on Tuesday released an economic impact study revealing detailed financial influences a new ballpark would potentially have on Oakland.According to the study, conducted by the Bay Area Council Economic Institute, a privately financed ballpark would generate $3.05 billion for the city's businesses and residents over the
OAKLAND -- The A's on Tuesday released an economic impact study revealing detailed financial influences a new ballpark would potentially have on Oakland.
According to the study, conducted by the Bay Area Council Economic Institute, a privately financed ballpark would generate $3.05 billion for the city's businesses and residents over the first 10 years.
In addition, about 2,000 construction jobs would be created, and annual attendance would rise by roughly 1 million, according to the report.
"I think it shows that the ballpark is not only a great thing for our fans and the fan experience but also for the community at large, the jobs it will create, economic impact, and the vibrancy it will create in Oakland," A's president Dave Kaval said. "It's a very exciting time for our organization. We're very happy with these results."
The findings represent concrete evidence of the A's dedication to pushing forward with their plans for a new stadium, while they continue play in the antiquated Coliseum they've called home since 1968.
However, the study does not identity a specific location in Oakland for a new stadium, and Kaval reiterated Tuesday that three sites are still under consideration: an area near Laney College, Howard Terminal and the Coliseum complex.
Kaval maintains a site will be announced by the end of the calendar year, in addition to a construction timeline. He suggested Tuesday the goal is to complete the construction project in two years.
"We're working as quickly as we can to make an announcement as soon as possible," he said. "At that time, we'll not only let folks know what the final location is but also the timeline of actually developing the ballpark and also the groundbreaking and opening date."
The 10-year financial projections are based on an estimated attendance of 2.55 million in the stadium's first year and slightly less than 2.4 million in the ensuing nine years. Oakland brought in 1.5 million in 2016.
The estimates are broken down into $1.54 billion from game-day spending, $768 million from construction and related spending, and $742 million from ballpark operations.
The total does not include estimates for additional economic growth from new commercial development and other business activity that would benefit from a new ballpark.
Jane Lee has covered the A's for MLB.com since 2010.