UPDATE Trend from the west. Special Session on Economic Development.

This week Nevada Legislature was called into special session for economic development. The details:

• The goal: A new NFL stadium
• The stadium cost to the state: $1.9 B
• The method of finance: increase on the hotel tax
• Additional sweetener: A 0.1 cent sales tax increase to fund more law enforcement in the resort area that would service the stadium

Las Vegas Review Journal | More Cops tax hike heads to Nevada Legislature along with stadium proposal

Informed Intel on September 7th, 2016:

Trend from West. Special Sessions of Legislature for Economic Development.

The State: Nevada

Economic Development Special Sessions:

• 2014 incentives for Tesla
• 2015 incentives for Faraday
• Potential 2016 incentives for a new Raiders Stadium

Economic Arguments for a NFL Stadium in Las Vegas:

• $750 million public contribution base don raising hotel taxes
  • the state is only on the hook for a 1/3 of the stadium cost
• the hotel tax would be put to its intended purpose- to put more heads in beds

Entities behind the stadium push:

• Las Vegas Sands (Sheldon Adelson)
•  Majestic Realty
• Oakland Raiders

Las Vegas Sun | Nevada Legislature mulls special session on NFL stadium