According to the proposal, the Paw Sox will pay $45 million of the project, Pawtucket will pay $15 million and the state will pay $23 million. In return, the state is projected to generate $36.5 million in revenue over the next 30 years, and the state is projected to generate $93.3 million over the next 30 years.
Legislation providing public support for the project, (2017-S-0989 and 2017-S-0990), was submitted in June by the Senate’s Pawtucket delegation, including Chairman Conley (D – Dist. 18, East Providence, Pawtucket) and Senators Donna M. Nesselbush (D – Dist. 15, Pawtucket, North Providence), Elizabeth A. Crowley (D – Dist. 16, Central Falls, Pawtucket) and James E. Doyle, II (D – Dist. 8, Pawtucket).
“The Chamber’s Board of Directors reviewed the proposal; discussed the business model, the history of the team and leadership, the financing proposal, and the potential impact to the state. They saw this proposal as an opportunity for Rhode Island, a tool for economic development, and on the merits of the numbers an excellent opportunity. The proposal, if adopted as submitted, will create 400 jobs, encourage ancillary development to help revitalize downtown and broaden the tax base. The taxes generated by the activities at the Ballpark will repay the bonds issued.” said Jo‐Ann Schofield, Chair of the Central Rhode Island Chamber Board.
“The plan is not simply a ballpark, it is a multi‐ faceted complex that has potential to generate revenue twelve months a year while keeping the Pawtucket Red Sox in Rhode Island and providing access and benefit to all Rhode Islanders. Football in the fall, hockey in the winter, lunch on the outfield, park benches and picnics along the river are all part of what will be available to the community with this project. The five year ticket freeze on general admission seating only strengthens the position that the PawSox are committed to continuing the family friendly and accessible activities they have been known for. The development of the Ballpark at Slater Mill and the surrounding area will dramatically change the Northern Gateway to the state of Rhode Island and serve as a catalyst to broader economic development,” said Lauren Slocum, President/CEO of the Chamber.
The remaining Senate hearings are listed below:
- Tuesday, October 3, 2017 at 6 p.m. at the University of Rhode Island, Swan Hall Auditorium, 60 Upper College Road, Kingston: The committee will examine the economic model and review state level risk analysis, and take public testimony
- Wednesday, October 11, 2017 at 6 p.m. at the New England Institute of Technology, Media Presentation Theatre, 1 New England Tech Blvd., East Greenwich: The committee will conduct general inquiry into previous testimony and presentations, and take public testimony.
- Thursday, October 12, 2017 at 6 p.m. at Roger Williams University School of Law, Room 283, 10 Metacom Ave., Bristol: The committee will continue its inquiry and take public testimony.
- Thursday, October 19, 2017 at 6 p.m. at Bryant University, Bello Center Grand Hall, 1150 Douglas Pike, Smithfield: The committee will continue its inquiry and take public testimony.