The Barclays Center has generated an estimated $14 million in tax revenues in its first year, city officials told the Daily News, providing the first tally of the $1 billion arena's contribution to the city's offers.
The estimates, which come from the New York City Economic Development Corp., are based on data provided by Barclays Center developer Forest City Ratner.
Overall, the direct output from the 18,200 seat arena, which just celebrated its first year anniversary and in its first year became the country's No.1 concert venue, has been $145 million, the city told the News.
That number reflects spending done by visitors - non-New York City residents - both inside and outside the Barclays Center, on things like ticket sales, merchandise, concession purchases, restaurants and transportation.
These are dollars that would not been flowed into the local economy had the arena not been in operation, city officials said.
...The $14 million in tax revenues includes sales tax associated with purchases inside and outside the sports and entertainment complex, as well as income tax generated by Barclays Center employees and the Brooklyn Nets.
This watchdog blog, by journalist Norman Oder, offers analysis, commentary, and reportage about the $4.9B project to build the Barclays Center arena and 15-16 towers at a crucial site in Brooklyn. Dubbed Atlantic Yards by developer Forest City Ratner in 2003, it was rebranded Pacific Park Brooklyn in 2014 after the Chinese government-owned Greenland Group bought a 70% stake going forward. As of 2018, after the arena and four towers were built, Greenland will own 95% of future construction.