Texas To Set Aside $31.2M In Sales Tax Revenue For Super Bowl XLV
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Texas state officials Friday said that they "would set aside $31.2[M] in sales tax revenue to help fund Super Bowl XLV" at Cowboys Stadium next year, meaning that local taxpayers "won't be on the hook for security-related costs for events in Dallas, Arlington, Fort Worth and Irving," according to Mosier & Nix of the DALLAS MORNING NEWS. The North Texas Super Bowl Host Committee "should have enough money to pay for its costs related to the game" on February 6, 2011. No decision "has been made about how the money will be split." The host committee and the cities are "all expected to tap into the fund." The fund taps "four sources -- sales, hotel, car rental and alcohol taxes -- paid by out-of-towners who come to the Super Bowl" (DALLAS MORNING NEWS, 3/13). Host Committee President & CEO Bill Lively said that the committee's budget is about $40M, and the group has "raised about $21[M] in cash and in-kind sponsorships." Host Committee Chair Roger Staubach: "With sponsorship and this, we should be able to fulfill every promise we've made." The $31.2M figure is "short of the $36.2[M] that the host committee had sought from the state fund," but Lively said that the "difference isn't meaningful and won't affect services." He said that the committee "will continue to sell sponsorships to cover expenses that aren't reimbursable." In Ft. Worth, Scott Nishimura noted the host committee "touted Texas' decision as an affirmation of an economic-impact study" the group had submitted with its request for funds. That study, conducted by California-based Marketing Information Masters, "estimated that Super Bowl XLV will generate a record $611.7[M] in economic impact" (FT. WORTH STAR-TELEGRAM, 3/13).
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