The $350 million project will be built on the former Jones West Ford site by Kietzke Lane. The demolition of the buildings began in late April.
Reno’s Vice Mayor Miguel Martinez said the stadium will help boost the city’s sports tourism.
“Offering another outdoor recreation facility for our region, and providing jobs and construction jobs that continue to help our union members and our families to be able to benefit from all of that activity,” Martinez said.
Martinez said at the moment, no public funding is being spent to support this project. It’s all from private investors. But it has potential to boost the local economy through increased tax revenue.
On the other hand, economic professor emeritus Dr. Roger Noll from Stanford University said the only component that would generate incremental revenue is the entertainment district.
“Macy’s is an anchor tenant because it’s open 12 hours a day, 364 days a year, or something. A soccer team it’s open maybe 25 or 30 days a year and the rest of the time it’s closed,” Noll said. “And it’s only open for four or five hours because the game doesn't even last all day.”
He recommends for the developers to find as many uses of the stadium as possible. If it doesn’t have other uses and tenants, he said it’s just a drag to the local economy rather than a benefit.
“But it’s not that the act of building the facility generates net increases in employment or wealth in Reno because it doesn’t unless it’s part of incremental sales to people who live outside the area,” Noll said.
The city had a team before called the Reno 1868 FC. They played for four seasons and made the playoffs every year. But the club ceased operations due to financial and operational impacts of the pandemic.
Noll said the demand for soccer in the US has grown since then. Therefore, it’s plausible for a minor league soccer team to be more viable now.
