North Carolina’s Cabarrus County is wondering why the six-year-old Cabarrus Arena and Events Center requires taxpayer subsidy despite holding 250 events per year.
Cabarrus County commissioners are questioning why the six-year-old Cabarrus Arena and Events Center requires taxpayer subsidy despite holding 250 events per year.
The issues are two-fold. First, when it was pitched to county officials, the budgets for the arena called for operating subsidies for only the first four years of operation, but six years in no one is projecting a profit. Also, the arena has failed to bring in any nearby development, though that is largely outside the control of arena operator SMG.
And SMG says the deficits have been decreased. But the lack of a sports tenant — indoor football failed there — means many of the 250 annual events are on the smaller side.
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