Harrison Square- A Description of Success or Failure

There has been considerable discussion as of late concerning the proposed Harrison Square project. Basically there are two sides insisting that it will fail or not.

Today, I refuse to join in on this fight. Instead this post will focus on how we can determine whether this project will succeed or fail or fall somewhere in between.



To Succeed

1. The amount of new economic activity deriving from this project must outweigh both the muted returns of existing businesses in area near the current stadium as well as establishments downtown.
2. The additional collected tax revenues should equal the complete construction cost of the project in 10-15 years.
3. In addition to point 2. The new tax revenues also need to be able to cover the city/ county's portion of the annual costs resulting from this project. This needs to happen within 3-5 years.

A Non-factor

Yes this project could become a non-factor. It can happen if the amount of economic activity resulting from the project can only equal the amount of economic activity before the project.

To Fail

This project will result in failure if it doesn't create enough new economic activity to meet pre-project levels or if it cannot meet its fiscal responsibilities.

Look for my take on this project later in the week.