Exporting Consumption:The Economic Justification for a UNLV Stadium

Robert Lang, Ph.D.Professor and DirectorBrookings Mountain WestUniversity of Nevada, Las VegasGreenspun College of Urban AffairsUNLV CIAB Meeting—Las Vegas, NV—Oct. 31, 2013

What’s In This Talk?

The Las Vegas Economy: “Consumption as Exports”

Comparisons With: Orlando, Phoenix, and Dallas Economies

Why Does Las Vegas Lack a Major Stadium?

Why We Need a Stadium?

The Las Vegas Economy

Brookings Model—Move Away from Consumption and Toward Goods Production and Exports

But Las Vegas and Orlando are the Two Top 30 U.S. Metro Areas Where Consumption Drives Exports

We Need to Invest in Metro Assets that Help Export Consumption

Look at Las Vegas Exports

Comparison with Orlando, Dallas and Phoenix Economies

Exchanges on Services and Goods with the World—2003-2012 Data

Metro-to-Metro Data on Domestic Exchanges for Goods

But First, a Quick Look at Current Economic Conditions

Metro Monitor 2nd Quarter 2013

Source: Brookings Institution Metro Policy

Source: Brookings Institution Metro Policy

Source: Brookings Institution Metro Policy

Source: Brookings Institution Metro Policy

Source: Brookings Institution Metro Policy

Source: Brookings Institution Metro Policy

So Why No Stadium?

Dillon’s Rule (Boomburbs Book) Nevada is a Strict Dillon’s Rule State Contrast with Texas—Arlington If Paradise, or Las Vegas, or

Henderson Kept a Share of Sales Tax, There Would be a Major Stadium Now

No Pro Sports (So No Lobbying) That May be a Good Thing

The Case for the Stadium

It is a Key Asset in the Las Vegas Core Economy—The Export of Consumption

It Anchors the Events Economy It Supports the Trade Show

Economy I refer to it as a: “Convention Center

with a Football Field”