The Oakland Athletics’ plan to build a privately-financed ballpark at Howard Terminal near Jack London Square could generate $7.3 billion in economic benefits over 10 years for Oakland and Alameda County, according to a study by the Bay Area Council Economic Institute.
The Institute’s study also projected that the waterfront stadium would produce more than 6,100 new permanent jobs.
“The Oakland A’s plan represents a transformational investment for the city,” Institute director Jeff Bellisario said in a statement. “The economic benefits of a project this size will ripple throughout the Oakland community for many years.”
The analysis comes on the heels of a similar study done by the Institute in January about the economic benefits of the A’s proposed gondola system, bringing fans from downtown Oakland to the waterfront. That project, the BACEI said, would have a $685 million economic impact over 10 years. READ THE FULL ANALYSIS.
The latest analysis on the ballpark itself tallies the economic and jobs benefits from the ballpark and proposed development that would surround the stadium. That development includes 3.3 million square feet of housing, 1.5 million square feet of commercial and office space, a hotel, a performance center and other retail, cultural and civic uses.
The $7.3 billion in economic benefits translates to $902 million a year, with the ballpark itself generating $3 billion of the overall economic benefits, thanks to increased spending in the area on parking, transportation and patronizing local businesses.
One-time jobs and economic impacts due to construction were not included in the analysis.