The San Diego Chargers released an economic impact report Tuesday in support of Measure C, the high-profile initiative to build a new stadium for the team in downtown’s East Village.
With Measure C on the Nov. 8 ballot, the team, along with San Diego County’s Building Trades Unions, made a big push to convince voters that a new downtown Chargers stadium will positively impact San Diego’s economy.
The Economic Impact Study, conducted by two San Diego economists -- Dr. Alan Gin and Dr. Murtaza Baxamusa, and funded by the Chargers -- looked at the impact from construction, Chargers operations and conventions and meetings at the proposed multi-use stadium.
It detailed how many construction and permanent jobs the project would create, plus the impact of the project's construction and operations on regional economic output and labor income.
The economic study says construction for the so-called "convadium" as well as the impact on Chargers operations would result in 6,400 jobs. Also, the study suggests the stadium plan would bring in nearly $400 million in total revenue for the region, including $176 million in labor income.
To read the full report, click here.
The release of this report comes right after San Diego Mayor Kevin Faulconer endorsed the measure – with conditions – including that the Chargers promiseto pay for any cost overruns in the construction phase.
One the other side, detractors of Measure C say the team doesn’t have to live up to those promises because it’s not spelled out in the ballot measure.
Tony Manolatos, who represents the campaign opposing the downtown stadium, released this statement Tuesday on behalf of the San Diego County Taxpayers Association and Haney Hong, the association’s president and CEO.
"Study after academic study over a quarter century have all reached the same conclusion - football stadiums do not foster economic development. They are not good for the tax base. Urban theorist Richard Florida recently put it this way: 'The overwhelming conclusion of decades of economic research on the subject is that using public funds to subsidize wealthy sports franchises makes zero economic sense and is a giant waste of taxpayer money.' Attaching a convention center annex to the Chargers stadium plan - an annex that Comic-Con and San Diego's tourism leaders have warned is a bad investment - does not make this multi-billion-dollar project any more appealing."