4. Cha-Ching
From an economic standpoint, it will provide an added jolt to the depleted coffers of the city and surrounding county. That’s because the success enjoyed this year will undoubtedly mean a jump in ticket prices, and with the city and county getting an eight percent cut on each of the 20,000+ tickets sold, that means more revenue will be available for everyday spending.
The impact will also be felt in other areas related to the team. Apparel related to a championship will be sold out of the team store in Quicken Loans Arena as well as local stores, and it will go quickly. That means sales tax will be paid on each item, which means more money for the county, a fact that was evident even during the first two months of this season. During that period when the team was plagued by inconsistency, sales tax revenues still increased by 10 percent for a total of $1.55 million.
There’s also the possibility of additional bars and restaurants dotting the landscape in downtown Cleveland. The ones currently there have seen big jumps in business this year, so there seems to be plenty of money to go around.
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