Publicly-Funded Ballparks Are for Suckers: New at Reason

Metropolitan areas across the United States have shelled out billions of dollars for gold-plated cathedrals to big men in tights.

A. Barton Hinkle writes:

Talk of a new ballpark for Richmond has all but disappeared in the past few months. Former Mayor Dwight Jones’ plans for one imploded, and his successor, Levar Stoney, has trained his focus on the nuts and bolts of local government that Richmond has too long ignored: public safety, sidewalk maintenance, leaf collection.

This is a good thing. To see why, look north to Hartford, Conn.

A recent story in The Wall Street Journal lays out the unfortunate details. Hartford looks somewhat like Richmond: One third of its 124,000 residents live in poverty, and its unemployment rate is twice the state average. The city also has been wrestling with financial difficulties.

Despite that, Hartford has built a new stadium for the AA-level ball club, the Yard Goats, and issued $68.6 million in bonds to do so—even though Dunkin’ Donuts paid an undisclosed, but no doubt pretty, sum for the stadium naming rights.

Mayor Luke Bronin has said the park by itself cannot recoup the investment. The city hopes ancillary development nearby will do so: There had been talk of a $350 million mixed-use development—shops and apartments and so on. You’ve heard it all before. But the development has not materialized.

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