The Atlanta Braves released details on the planned urban development project around their proposed stadium site in Cobb County.
The development, which is expected to cost $400 million, is expected to be year-round.
According to the release, the new development should create about $6 million in new public tax revenue yearly for Cobb County, half of which will go to Cobb County schools.
About $1.2 million is expected to go to the county's general fund with half a million going to the Cobb County Fire Department each year.
According to the Cumberland Community Improvement District, property values around the stadium are expected to double which should also contribute to tax revenues.
The Cumberland CID says they also expect 2,241 construction jobs during the project with 447 jobs afterwards at the ancillary development site.
Around 11,000 new jobs are expected from the stadium and mixed-use project on a yearly basis.
"The stadium places no new tax burden on the Cobb homeowner, will bring hundreds of millions of dollars of benefits to the region, and provide thousands of jobs for Cobb residents," said Malaika Rivers, executive director of the Cumberland CID.
Tuesday, April 20 2010 11:21 PM EDT2010-04-21 03:21:00 GMT
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