It was only Friday that I suggested we would be needing a “stupid infrastructure” category to cover government spending infrastructure money on things that should at the bottom of the list, below tax breaks for yachts. And now here we already have our first entry, it’s so exciting:
State officials joined the Chicago Blackhawks, the city of Rockford, and the Rockford Area Venues and Entertainment Authority and the Illinois Department of Commerce and Economic Opportunity in announcing a $23 million multi-year capital project to revitalize the [Rockford IceHogs‘] BMO Harris Bank Center — Rockford’s largest sports arena and entertainment venue.
Fueled in part by the Rebuild Illinois $45 billion capital plan, the project will modernize Rockford’s largest destination asset, creating over 250 construction jobs, retaining hundreds of existing full-time positions, and generating millions in economic activity to the region.
Rebuild Illinois, for those not familiar, is a $1.5 billion spending plan put forward by Gov. J.B. Pritzker to fund transportation and other public infrastructure. In this case, the infrastructure being paid for by $13 million in Rebuild Illinois grants is, as Kane County Connects relates it, “necessary infrastructure improvements, improved audio-visual and digital technology, enhanced guest experience and concession areas, space for sports betting, and other modernized customer amenities.” These new video boards and hot dog stands and in-arena gambling halls are somehow projected to create “$382 million in net spending” in Rockford — though actually the report says it’s the arena upgrades “combined with the sale of the team to the Blackhawks and their long-term commitment to the facility” (Chicago Blackhawks owner Rocky Wirtz graciously agreed to buy the IceHogs as part of the deal for public cash) that would create the economic benefits, so maybe Pritzker is just adding up every dollar that will be spent at an IceHogs game ever and attributing that to the new scoreboards?
In addition to the $13 million in state infrastructure money, the Rockford Area Venues and Entertainment Authority and the city of Rockford are putting up $10 million in “short and long-term capital,” bringing the public cost of upgrading the arena to $23 million, for a building that was built in 1981 for, let’s see, $15.7 million. Though that’s $47.5 million in today’s dollars, so really taxpayers are only paying half the entire original construction price to upgrade a minor-league hockey arena that, while owned by the city, is managed by a private operator and used by a private sports franchise now owned by a guy rich enough to own a superyacht. Stupid infrastructure: Ask for it by name!