East Valley folks what do you think?

[Red Hawk]

IKEA expected to offset loss of stadium in Tempe
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Associated Press
Sept. 8, 2003 10:05 AM


A European furniture store planned as the anchor for a new shopping center could more than offset the loss of the Arizona Cardinals stadium here.

Tempe lost the battle with Glendale to land the new stadium, but it won over IKEA, a massive furniture retailer known for modern styles, low prices and assembly-required furnishings.

The city now expects to earn more sales tax revenue from IKEA than it would have from the stadium. Under the proposed deal with the Cardinals, the city would have had to turn over $450,000 in sales taxes generated to help subsidize the stadium. But the city expects to retain at least $1 million a year from IKEA-generated sales tax.

Patrick Flynn, a consultant for Tempe who helped put together the proposed stadium and the IKEA deals, said the city will benefit more from IKEA than it would have from the stadium.

"Its not only the business that we could get directly from IKEA, but its the fact that IKEA will attract literally thousands of shoppers to Tempe," said City Manager Will Manley. "Well definitely attract more people than a stadium."

 

[MadCardDisease]

Originally posted by az-red
IKEA expected to offset loss of stadium in Tempe
advertisement

Associated Press
Sept. 8, 2003 10:05 AM


A European furniture store planned as the anchor for a new shopping center could more than offset the loss of the Arizona Cardinals stadium here.

Tempe lost the battle with Glendale to land the new stadium, but it won over IKEA, a massive furniture retailer known for modern styles, low prices and assembly-required furnishings.

The city now expects to earn more sales tax revenue from IKEA than it would have from the stadium. Under the proposed deal with the Cardinals, the city would have had to turn over $450,000 in sales taxes generated to help subsidize the stadium. But the city expects to retain at least $1 million a year from IKEA-generated sales tax.

Patrick Flynn, a consultant for Tempe who helped put together the proposed stadium and the IKEA deals, said the city will benefit more from IKEA than it would have from the stadium.

"Its not only the business that we could get directly from IKEA, but its the fact that IKEA will attract literally thousands of shoppers to Tempe," said City Manager Will Manley. "Well definitely attract more people than a stadium."

Just what I've always wanted, an IKEA store.

 

[DeAnna]

Hey, don't knock it 'till you shop it.

I would have preferred the stadium but I love Ikea and am glad I don't have to travel to LA anymore!

They will do very well in the valley...lots of college students here.

 

[CardAvenger]

Nice. Now I have an IKEA to the East of me, and the Cardinals Stadium to the West of me. Good things for both me and the wife. Too bad both will suck the checking account dry.

 

[Brian in Mesa]

I'm sure the IKEA will have Mill Ave rocking on Sundays and be a real plus to all of the Tempe eateries and other businesses frequented previously by NFL fans on game days. :roll:

 

[WizardOfAz]

How much are season tickets?

 

[WizardOfAz]

Originally posted by az-red
Patrick Flynn, a consultant for Tempe who helped put together the proposed stadium and the IKEA deals, said the city will benefit more from IKEA than it would have from the stadium.

How much would they have benefitted from both?

 

[CardAvenger]

Originally posted by Brian in Mesa
I'm sure the IKEA will have Mill Ave rocking on Sundays and be a real plus to all of the Tempe eateries and other businesses frequented previously by NFL fans on game days. :roll:

Maybe they'll have a blowout sale during the Fiesta Bowl.

 

[Chris_Sanders]

This is the most rediculous spin I have ever seen in an article.

Did the New Times write this?

 

[jf-08]

bad spin

I guess all of the restaurant revenue on game day doesn't amount to much

 

[Redheart]

Let me see...

Furniture shopping.....or.....football......

Furniture shopping.....or.....football......

so HARD to make a choice.....honey......

 

[Billy Flynt]

It's apples to oranges. Of course every fan in Tempe would have liked to see the stadium there, but from an economic standpoint, this is a huge boom.

We have been trying to lure Ikea to the Hampton Roads area. They do millions in retail sales, per store.

Not a bad plan B.

 

[Lex]

The consultant that brokered the deal, and was paid a commission by Tempe is the source for this B.S. How much tax revenue did Tempe give back to IKEA to land the project? I don't see that reported here.