The team, local and state officials, will kick-off formal construction of the NFL’s newest stadium in the heart of Las Vegas.
The late Tom Petty infamously said in the lyrics of one of his songs: the waiting is the hardest part.
The waiting for Las Vegas and the Raiders organization will come to an end as the official groundbreaking of the team’s new stadium has been confirmed for November 13th.
It’s been almost 18 months since the Oakland Raiders first presented the Southern Nevada Tourism and Infrastructure Committee a comprehensive plan to build a state-of-the-art domed stadium in Las Vegas – just off the famous Las Vegas Strip.
Just over 12 months since the Nevada Legislature passed Senate Bill 1, and the State State Senate voted of 16-5 to approve, and then Governor Brian Sandoval signed it into law, Silver and Black shovels are ready to turn over soil and get the stadium construction officially underway. The Raiders received approval just over seven months ago after the NFL owners voted 31-1 to allow the Raiders to relocate.
The story first broke locally in Las Vegas via Alan Snel of LVSportbiz.com and was later confirmed by this writer with a Raiders source last Thursday.
Any doubts about the finality of the Raiders relocating to Las Vegas can now be put to rest.
Currently, work crews are conducting soil testing and sampling but construction on the actual stadium has not commenced. Contractors have started clearing all vegetation from the site, and will continue to conduct soil samples. Also a storm culvert needs to be rerouted around the site as well . While there is no official development agreement in place, the Raiders are allowed to begin excavation and foundation work without the agreement in place, at their own risk. Also, the Raiders must spend $100 million out of their own pocket, not including the land purchase, on actual site construction before they can access the $750 million dollars in available public funds, collected from hotel room taxes in Clark County.
Once the Raiders officially break ground, the pace of the work will increase rapidly. Laborers Local 872 already has eight members on site, and around 16-20 all together from other trades for support and the current level of work. That is around 800 man hours a week and total weekly spend of over $50,000 dollars. Once the job ramps up in late November or early December, the Laborers alone expect 500 to 600 members to be working on site 24 hours a day seven days a week.
Jobs, and the Economic Flow
Over 1,000 people will be going to work each week in new jobs created by the stadium. Contractors, electricians, laborers, ironworkers, welders, bricklayers, caterers and food services just to name a few. Over $3 million a week will begin flowing into the local economy. Which, when spent directly, and indirectly, will result in over $500,000 in new money, each week, going directly into public coffers in the form of sales tax alone.
How it is broken down.
- 2% sales tax to Nevada’s general fund
- 2.6% sales tax to Clark County schools
- 2.25% sales tax to Clark County Local cities relief fund
- .75% sales tax to mass transit and road/infrastructure.
- .25% sales tax to flood control
- .4% sales tax for additional law enforcement
It will be around $26 million a year, for the next 2.5 years in total new money from sales tax collection. Roughly $150,000+ a week will go directly to supporting local schools. Which is over 8 million a year in new tax money for local schools. Over $40,000 a week will go towards mass transit and road infrastructure for a total of over 2 million a year. Clark County law enforcement should see over $1.25 million a year.
This is just from construction of the Stadium alone. There will also be the construction of a $100 million dollar training facility and Raiders Headquarters. Once the stadium is complete it will lead to thousands more seasonal and permanent jobs. Those will have an expected average annual salary of 38,000+.
Stadium Groundbreaking Means a lot More Than Most Think
When the Raiders officially break ground, it will mean a lot more than just a home for two football teams (UNLV will also play in the stadium). Thousands of local citizens will be directly and indirectly affected, in a good way, which will immediately be felt in their individual pocket books. These jobs equal money, and the money will be flowing for decades to come.