Lawrence project expected to generate nearly $2 billion in economic impact

Douglas County, KS, is poised for significant economic growth following a recent Board of Commissioners meeting where officials discussed a transformative project expected to generate nearly $2 billion in economic impact over the next 20 years. The project, backed by an economic study from Hunden and Associates, outlines a net new direct spending of $1.4 billion and an additional $550 million in indirect spending, highlighting the extensive benefits for the local economy.

Key components of the project include the development of a new stadium, which is anticipated to replace an outdated facility that has historically underperformed in revenue generation. The new stadium is projected to enhance local business activity, with estimates indicating the creation of over 4,000 full-time jobs and substantial increases in sales and property tax revenues. Specifically, the incremental sales tax revenue for the city of Lawrence is projected to reach $27.8 million, while the county could see an equivalent of $32.5 million over the same period.

A significant aspect of the project is its funding structure, which includes $248 million in donor contributions and an additional $150 million in borrowing facilitated by the expected revenue from the new stadium. This financial model aims to ensure that the project not only supports immediate economic needs but also contributes to long-term fiscal health for the county and city.

Moreover, the project will convert university-owned land into taxable property, allowing for ongoing property tax collection that will benefit local schools and other public services. This strategic move is designed to mitigate any potential adverse impacts while maximizing the positive effects on the community.

As the project moves forward, officials emphasized the importance of collaboration among various stakeholders, including local government, businesses, and community organizations. The next steps involve securing additional funding and finalizing partnerships to ensure the successful implementation of this ambitious initiative, which promises to reshape the economic landscape of Douglas County for years to come.