Graziadio Dean David Smith on the Economic Impact of the New Rams Stadium
Dean David Smith of the Graziadio School of Management at Pepperdine University recently shared his views on the new stadium that will be built for the Los Angeles Rams.
The stadium, which is projected to earn the city’s economy over a billion dollars in revenue, will also create roughly 40,000 jobs for Los Angelenos. With the possibility of both the Oakland Raiders and the San Diego Chargers using the field for home games, the new project has been dubbed “NFL Disney World”.
With a crowd capacity of 70,000, the stadium is at the center of a development that will include a hotel and retail component, a performance venue, office and residential space, and close to 250 acres of parks and playgrounds. Smith notes in the LA Daily News column, “Our civic leaders should be congratulated for their vision and taxpayer-friendly boundaries.”
But Smith cautions against putting too much faith in the large retail chains that will provide the most jobs to residents. While the economic drive will create a boon for the city, Smith notes that small business is, “the lifeblood of a community” and what really gives the city a sustainable economy. Smith points out the effect of “game day economics”, in other words, the placement of a large amount of stock in the payoff that the venue’s events will bring, while drawing support away from the very businesses that paved the way for it.
Recognizing the rich cultural heritage in the community of Inglewood, which will be the stadium’s home, Dean Smith writes, “Developers, please note – it’s possible to have an eye to the future and be respectful of the past. Let’s hope Inglewood doesn’t lose its unique character as it evolves into a world-class entertainment destination.”
Along with his position as dean at Pepperdine Graziadio, Smith serves as an associate professor of economics.
About the Author
Maggie Boccella
Maggie Boccella, a lifelong resident of Philadelphia, is a freelance writer, artist and photographer. She has consulted on various film and multimedia projects, and she also serves as a juror for the city's annual LGBTQIA Film Festival.
