A new report has found that the proposed Macquarie Point Stadium in Tasmania would generate $226.61 million per year in economic benefits for the state, totaling $2.26 billion over its first 10 years.
The report, authored by businessman Russel Hanson, compares the potential of the stadium to that of the Museum of Old and New Art (MONA), stating that it could become a landmark attraction and magnet for visitors and events.
Even under the worst-case scenario, the report suggests that the stadium would generate a total of $169.96 million per year in economic benefits.
The report debunks claims that the stadium would be a financial burden, arguing that the economic benefits are as compelling as the social, health, and wellbeing benefits.
The proposed stadium is set to cost $715 million, with $240 million in federal funding, $15 million from the AFL, $85 million from land sales and leasing, and the remaining $375 million from the state government.
The State Opposition say there are still “serious questions” about the construction of the Macquarie Point stadium.
“It is likely to [cost] well north of $1 billion and entirely debt funded,” said Shadow Minister for Economic Development Dean Winter.
