This thesis examines the early economic and community impacts of M&T Bank Center, a newly constructed multi-purpose arena located in the Mohawk Harbor district of Schenectady, New York. The arena is the home venue for Union College's Men's and Women's Ice Hockey programs and hosts concerts and other public events. This study investigates the potential economic impact of the opening of the arena in Schenectady. The economic impact of sports infrastructure is a longstanding urban economics debate. While proponents claim stadiums and arenas boost tourism, employment, and local economic growth, most empirical research finds little evidence of metropolitan benefits. Recent studies focus on localized effects: amenity value and neighborhood spillovers influencing nearby housing, business, and urban attractiveness. By focusing on a newly developed sports venue in a mid-sized city, this thesis provides an early case study of localized economic and perceptual impacts of sports infrastructure. Descriptive analysis uses a combination of publicly available economic data and a structured survey of hospitality and entertainment businesses located near the arena. Housing market trends are evaluated using the Zillow Home Value Index from Zillow, consumption and commercial activity are measured using sales tax collections reported by the Office of the New York State Comptroller. Additional data on taxable sales, employment, and wages are drawn from New York State Open Data and the New York State Department of Labor. Findings suggest modest changes in several economic indicators around the time of the opening as well as primary evidence of increased sales and customer traffic for nearby businesses.
Acknowledgements: I'd like to thank my faculty advisor, Kaywana Raeburn, for all the help and support throughout my thesis project. I would not have been able to complete this work without her!