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For Immediate Release
April 6, 2007
Contact: Alison Asti (410) 333-1560 According to an economic impact report commissioned by the Maryland Stadium Authority and conducted by Anirban Basu of the Sage Group, in FY 2006 the Baltimore Orioles generated in excess of $166.9 million in sales and wages with a fiscal impact on state and local governments totaling $17.95 million in tax revenues.
The stadium supported 2,452 Maryland jobs in 2006, which represents $72.6 million in personal income during that year. "The economic impact of the Orioles is arguably more valuable than the numbers suggest," Dr. Basu observed. "The impact largely takes place on weeknights, which would otherwise be slow for local merchants." Since opening fifteen years ago to sellout crowds and national acclaim for its traditional design and downtown location, Oriole Park at Camden Yards has provided more than sports and entertainment for Marylanders. The one time industrial freight yard, which represented a major league investment in urban revitalization, has become the anchor of a multipurpose complex with year round activities. It includes: - The B&O warehouse, incorporated into the design and infrastructure of the stadium, renovated into a mix of top class office space, restaurants, and retail operations.
- The historic Camden passenger station, restored and adapted as museum attractions, heritage exhibits and catering facilities
- The transit center, with a light rail stop, MARC terminal, and public parking.
- M&T Stadium, home to the other flock of Baltimore birds. Like Oriole Park, M&T Stadium and the surrounding lots are used for numerous activities throughout the year. The indoor facilities are regularly leased for private events of all sizes.
Once surrounded by empty lots and vacant warehouses, the complex has seen Baltimore blossom around it. Since 1992 , the new convention center has closed the gap between Camden Yards and the Inner Harbor. In 2006, work began on the hotel bordering the north side of the complex.
It all began with the Orioles and their new ballpark. Fifteen years after opening, the State’s investment continues to pay dividends, compounded with interest and continued growth. The report concludes that " . . .Baltimore’s fan loyalty coupled with the excellence of Oriole Park as a facility . . ." is responsible for continued success at the bottom line, despite the presence of a Washington franchise and several losing seasons. "We are pleased that Camden Yards continues to be a strong economic engine for the State and City," Maryland Stadium Authority Chairman Robert L. McKinney said of the report. |
