“This project is good for workers, it’s good for Milwaukee, and it’s good for Wisconsin,”
By Felicity Bosk
After several months of debate and discussion, Wisc. Gov. Scott Walker signed Senate Bill 290–appropriating funds to build a new basketball arena for the Milwaukee Bucks.
“This project is good for workers, it’s good for Milwaukee, and it’s good for Wisconsin”
$80 million will be allocated over the next 20 years, with $4 million in State funds given every year. It is projected for every dollar put into the arena, the State will receive $3 back in economic development. Wisconsin currently makes $6.5 million through the Bucks from taxes related to the team.
The arena deal divided the Republic and Democratic party at first. The two parties managed to work together for their common goal.
“This project is good for workers, it’s good for Milwaukee, and it’s good for Wisconsin,” said Wisconsin Democratic Party Chair Martha Laning in a statement. “Thanks to Senate Democrats for working with Republican leadership in crafting a deal that will create thousands of family-supporting jobs.”
The arena is projected to cost $500 million. $250 million will be funded by the current and former owners. The rest will be paid for by the citizens of the City of Milwaukee and Milwaukee County.
If a new arena was not built for the Bucks by 2017, the NBA said it would buy the team and move them to another state.