Braves' revenue projection for Cobb County higher than expected - CBS46 News

Braves' revenue projection for Cobb County higher than expected

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MARIETTA, GA (CBS46) -

The chairman of the Cobb County Commission said at a news conference Thursday that the expected revenue from the new Braves stadium is higher than first thought.

The $600 million stadium will be built near I-75 and I-285 in Smyrna. Developers also plan to build shops, restaurants and office space in the area.

Chairman Tim Lee said new figures indicate the stadium will generate sales and property tax income of $12.6 million each year. That is $3.5 million more than first estimated last November.

Over a ten-year period, county leaders project the stadium will bring in $132.3 million.

"My hopes are that it will give some confidence to people to believe that this is the right project at the right time, that we have looked at the best interests of our community," said Lee.

The Braves last year announced they would move out of their current location at Turner Field for the 2017 season. The team said more of its fan base is in the Cobb County area.

Lee said the increased revenue projections come as property values in the county continue to rise and the hotel-motel taxes collected are higher than they have been in 10 years.

County leaders said the additional revenue collected will be channeled to areas that benefit taxpayers. A large portion of the extra money will go to schools.

"We're glad it's going to be positive for the school system, and I think they're looking forward to it," said Lee.

Commissioners will review four proposals from contractors next week. A final stamp of approval on the stadium plans is scheduled for May 27.

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