Towson University’s new Tiger Arena opens tonight. The arena cost $70 million, funded through $20 million in Towson’s reserve funds, combined with bonds paid back through a student fee set aside for construction projects. UMBC economics professor Dennis Coates told the Baltimore Sun that although new arenas generally succeed in increasing the owner’s ability to generate revenue, whether that benefits those who pay for construction is less clear. “It creates a nice buzz,” said Coates, “but otherwise, the impact is spread out.”
Coates also commented in a recent Wall Street Journal article on how Brooklyn’s Barclays Center impacts local retailers, particularly food vendors.
