Study: Glendale better off with Coyotes than without

Jun 7, 2012, 4:00 PM | Updated: 5:04 pm

A study conducted by a Valley economist said that the city of Glendale will be better off financially by keeping the Phoenix Coyotes rather than losing the team.

According to the study, the cost of operating a Coyotes-less Jobing.com Arena would total $315.3 million over 20 years, the length of the proposed team purchase agreement between Greg Jamison, the city and the NHL.

Should the Coyotes stay, it would cost the city of Glendale about $17.8 million less over the 20 years, when certain discount rates are applied. However, the study said that the gross loss to the city could be doubled with no team in the arena.

“The worst of all possible scenarios for Glendale would be for the hockey team to leave,” the study said.

The Coyotes account for about 59 percent of all the events at Jobing.com Arena and, according to the study, the Cardinals’ ten-home game season, along with other events held in the arena, do not present a viable way for nearby businesses and hotels to remain open. If the Coyotes leave, it could create a ripple effect to outlying offices and residences as well.

The arena is only used 85 days per year on average, thus meaning it has excess capacity. Should the Coyotes leave, demand for the arena could fall off more and property values and tax revenue would decline, despite the city still by liable for bond costs.

Related Links:
Read the full study

Lifetime Windows & Doors

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

(Gateway Grand Rendering)...
Danny Shapiro

Ground broken on 2 million-square-foot Gateway Grand industrial park in Mesa

Ground was broken Tuesday on the 2 million-square-foot Gateway Grand industrial park in Mesa, which is expected to be completed in 2023.
1 day ago
(File Facebook Photo/Yavapai County Sheriff's Office)...
KTAR.com

Yavapai County Sheriff’s deputy killed in shooting with suspect

A Yavapai County Sheriff’s deputy was killed Tuesday in a shooting with a suspect in Cordes Lakes, authorities said. 
1 day ago
Rachel Mitchell (rachelmitchellformaricopa.org Photo)...
Torrence Dunham

Here’s Interim Maricopa County Attorney Rachel Mitchell’s stance on Arizona’s abortion law

Interim Maricopa County Attorney Rachel Mitchell in a press conference on Tuesday gave her stance on a law in Arizona that bans abortions, which took effect after the Supreme Court last week reversed Roe v. Wade.
1 day ago
(Facebook Photo/U.S. Forest Service - Coconino National Forest)...
KTAR.com

Coconino and Kaibab forests in northern Arizona lift fire restrictions

Having received significant precipitation from recent storms, the Coconino and Kaibab forests in northern Arizona announced Tuesday that fire restrictions have been lifted.
1 day ago
(AP Photo/Ross D. Franklin, File)...
KTAR.com

Arizona Gov. Doug Ducey signs $18 billion budget for 2023 fiscal year

Arizona Gov. Doug Ducey on Tuesday signed the $18 billion budget into law that makes hefty investments in education, border security and infrastructure.
1 day ago
(AP Photo/Ross D. Franklin, File)...
Sponsored Content by

Arizona Gov. Doug Ducey on Tuesday signed the $18 billion budget into law that makes hefty investments in education, border security and infrastructure.

Sponsored Articles

...
Dr. Richard Carmona

Great news: Children under 5 can now get COVID-19 vaccine

After more than two years of battle with an invisible killer, we can now vaccinate the youngest among us against COVID-19. This is great news.
...
CANVAS ANNUITY

Best retirement savings rates hit 4.30%

Maximize your retirement savings with guaranteed fixed rates up to 4.30%. Did you know there is a financial product that can give you great interest rates as you build your retirement savings and provide you with a paycheck for life once you retire? It might sound too good to be true but it is not; this product is called an annuity.
...
Carla Berg, MHS, Deputy Director, Public Health Services, Arizona Department of Health Services

Update your child’s vaccines before kindergarten

So, your little one starts kindergarten soon. How exciting! You still have a few months before the school year starts, so now’s the time to make sure students-to-be have the vaccines needed to stay safe as they head into a new chapter of life.
Study: Glendale better off with Coyotes than without