OCBC Supports NFL Stadium in City of Industry
What would the NFL’s return mean to Orange County? If you use the past three Super Bowls as a guide, it would mean a lot, especially when the project is estimated to generate over 18,000 jobs at a time when the citizens of Southern California are eager to get back to work. Majestic Realty’s proposal to build a state of the art football stadium in the City of Industry comes at a pivotal time in Southern California’s economic recovery. The project will be privately financed and will be an economic shot-in-the-arm to the region by generating approximately $762 million in annual economic output with no tax dollars. It will also generate over $21 million in tax benefits to local government agencies.
Best of all, Majestic’s stadium plan is centrally located just north of Orange County and within an hour drive of 15.5 million Southern California residents. This location is crucial to Orange County benefitting from the economic activity created by the construction and operation of the stadium. OC has a flourishing business community and strong competitive population base that will support the stadium in many ways.
A stadium in downtown Los Angeles has also been proposed, but is less attractive to the 3.2 million residents of Orange County. The travel to and from is significantly constrained, limited parking, lack of tailgating facilities, an LA-centric focus, and other amenity constraints are issues that make this downtown location less appealing. For more information, contact Dr. Wallace Walrod, Vice President of Economic Development and Research.