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Economist sees new Calgary arena as good investment

Last Updated Jul 24, 2019 at 8:31 am MDT

(CREDIT: @JeffDavisonYYC, Twitter)

CALGARY (660 NEWS) – A new NHL arena could help bring short and long-term benefits to the City of Calgary.

That’s the perspective of Jane McIntyre, an economist with the Conference Board of Canada.

She said projects like this typically have a trickle-down effect.

“New investment in the city is new investment, it brings with it jobs, it brings with it construction, it brings with it the potential for further development as well.”

McIntyre says the entertainment value shouldn’t be overlooked because the venue would attract more concerts to the city.

Supporters of the arena believe it will help revitalize the area around Stampede Park.

WATCH: City Council looks for feedback into the new arena deal

“We’ll see three years of construction from that,” said McIntyre. “Then the potential for afterwards is also good.”

City council will vote on Tuesday afternoon on whether to proceed with the arena.

If the project is approved the city would pay half of the $550 million, around $275 million.

READ MORE: Deal reached for new Calgary arena 

McIntyre said that while the price tag seems hefty, the arena could help a city facing tough times.

“Calgary is sort of still rebuilding after the latest recession and so this new investment, a new infusion of money into a new project into the city may not be a bad thing.”