Reasons Why New $1.4 Billion Stadium is Good For All In New York
New York taxpayers are on the hook for $850 million of a $1.4 billion new stadium to keep the Bills in New York.
Gov. Hochul says there are many reasons why this is good for all New Yorkers.
$1.4 billion New Stadium in Orchard Park.
On Monday, Gov. Kathy Hochul and Erie County Executive Mark Poloncarz announced an agreement between New York State, Erie County, and the NFL's Buffalo Bills franchise for a $1.4 billion new stadium in Orchard Park.
"I went into these negotiations trying to answer three questions - how long can we keep the Bills in Buffalo, how can we make sure this project benefits the hard-working men and women of Western New York and how can we get the best deal for taxpayers?" Hochul said. "I'm pleased that after months of negotiations, we've come out with the best answers possible - the Bills will stay in Buffalo for another 30 years, the project will create 10,000 union jobs and New Yorkers can rest assured that their investment will be recouped by the economic activity the team generates."
Buffalo Bills Will Stay in New York
Hochul's negotiations secured a 30-year commitment for the Bills to remain in Buffalo, and a combined $550 million from the NFL and Bills - approved today by the NFL owners.
The Governor will advance a $600 million proposal in the state budget for the new Stadium. Erie County will contribute $250 million.
"The Buffalo Bills are ingrained in the heart and soul of every Western New Yorker," County Executive Mark Poloncarz said. "It was essential that we entered into an agreement that ensured the team stayed in Buffalo, but was also a fair deal for the people of Erie County and New York. That is exactly the agreement that has been reached: the Bills will play in Buffalo for the next 30 years; 10,000 building trades union jobs will work on the project; and the county will no longer contribute annual operating and capital expenses, thereby saving county taxpayers tens of millions through the life of the lease.
The 30-year agreement details the construction of a new stadium with a minimum of 60,000 seats in Orchard Park, Erie County to be designed and constructed by the Buffalo Bills. The deal includes a commitment from the Bills to play at the new stadium for the next 30 years. The Bills will begin the design of the new stadium immediately, and all parties will begin negotiations on extending the team's current lease for Highmark Stadium which expires in 2023.
Why This Is Good For New York
New York officials say keeping the Bills in Buffalo is key to the economic health of New York State.
"The Buffalo Bills franchise is a proven economic driver for the Buffalo region and the state, Hochul's office states in a press release.
According to Hochul's office: