Tennessee Conservative
The Tennessee Department Of Tourist Development Again Released Large Claims About Tourism In The State, This Time Saying The State Saw $28.9 Billion In Direct Visitor Spending In 2022 After Estimating That Number At $27.5 Billion In March. Those Claims, However, Are Called Into Question By Economists.
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Forbes Estimates The Tennessee Titans’ Value Has Reached $4.4 Billion, Up 26% From Last Year. The Titans Saw The Largest Increase After The Team Got A Commitment For More Than $1.26 Billion In Financing For A New Stadium.
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Tennessee Republican Leaders Have Touted The State’s No. 3 Ranking In CNBC’s Top States For Business This Week, But The Cable Network’s Rankings Are Also Being Questioned.
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Tennessee Once Again Claimed Victory When It Recently Touted That Visitors Had Spent $27.5 Billion On Tourism In The State In 2022. But Those Numbers, Presented By A Marketing Group Called Tourism Economics And Paid For By The United States Travel Association, Revealed Little About How The Numbers Were Computed.
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Tennessee’s Financial Position Is $7.4 Billion Better Than It Was The Year Before, According To The State’s Recently Released Annual Comprehensive Financial Report.
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A Central Point Of The Push For A New $2.1 Billion Domed Tennessee Titans Stadium Has Been The Ability To Host Year-Round Events At The New Facility But Available Events That Could Fill The 60,000 Seat Stadium May Be Lacking.
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The State Of Tennessee Has Collected $585.8 Million More Than Budgeted In Taxes And Fees In The First Three Months Of The Fiscal Year.
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In Many Of The Cases, Rather Than Using Direct Funding Methods From City Or State Coffers, Tennessee Has Now Opted To Have A Portion Of Funding For The Bonds On Building Stadiums To Come From Sales Tax Zones. Those Funds Are Often Termed By Those Proposing Deals As User Fees. But Economists Say That Doesn’t Show The Full Impact.
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The City Of Memphis Plans To Ask The State Of Tennessee To Contribute $350 Million Toward Renovation Projects At Three City-Owned Arenas And To Help Build A New Soccer-Specific Stadium For Memphis 901 FC.
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After Announcing A Deal To Build A New Titans Stadium That Will Cost At Least $2.1 Billion, The Next Step For Metro Nashville In The Approval Process Will Be To Present The Deal To The City’s East Bank Stadium Committee At 4:30 P.M. On Oct. 26.
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