Entertainment district benefits don’t outweigh the cost, economists say

(The Center Square) — Weeks later, after more details have been released regarding the $2 billion entertainment district deal between Monumental Sports and Entertainment and state and local governments in Virginia, economists maintain it’s a bad deal for taxpayers — though some components make it slightly less so. 

Initially, a handful of figures were released to the public. 

The total cost to build the entertainment district in the Potomac Yard neighborhood of Alexandria would be $2 billion. Monumental would contribute $403 million to the development and the city of Alexandria, about $106 million. The state would finance most of the remaining $1.5 billion through bonds to be paid back through revenues the district would generate, according to Youngkin.

Youngkin also said there would be no “upfront investment” to the commonwealth, the mechanics of which became a little clearer with more information. 

“I think that’s what they were differentiating was cash on hand. They’re paying
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