Greater Providence Chamber of Commerce Supports Proposal for New PawSox Ballpark in Pawtucket

The Greater Providence Chamber of Commerce today announced its support for the proposal to build a new PawSox stadium at Slater Mill in downtown Pawtucket. 

A new ballpark for the PawSox will accomplish three vital things: 1) it will ensure that in fast-changing times, one of the most uniquely Rhode Island institutions remains a part of our community fabric; 2) it will provide an unprecedented economic development opportunity for Pawtucket's downtown and riverfront; and 3) it will contribute new tax revenues to the state and prevent the loss of current revenues being generated at McCoy stadium if the team is forced to move out of Rhode Island.

"This is a critical moment for the state. Rhode Island must demonstrate that it is willing to walk the walk when it comes to supporting established local institutions which are transforming themselves into a source of new economic growth and contribute to the state's fiscal pie," said Laurie White, president of the Greater Providence Chamber of Commerce. 

"The PawSox have been successfully operating for 43 years and presently bring in more revenue to the state than what is being requested to help finance the new ballpark. Based on our multiple discussions with Mayor Grebien and team ownership and management, the Chamber recognizes that this project is a real win-win opportunity for all Rhode Islanders," White continued. 

The proposed framework to finance a new ballpark in Pawtucket is substantially better for the public than the 2015 Providence proposal. The project will be revenue positive for the state. The total cost to the state will average about $1.4 million annually. The state already receives $1.9 million per year in taxes from the current ballpark. This revenue would be lost if the PawSox move - let alone any additional revenues which will be generated from a new facility in a much better location.

The fact that the PawSox are willing to fund 54 percent of the $83 million ballpark costs through its $45 million investment is a measure of the team's strong commitment to Rhode Island and to a successful business, sporting and community development endeavor. Importantly, the PawSox have also agreed to pay for any construction cost overruns for the new stadium.

The PawSox' contribution will be the largest single private investment in the history of Pawtucket with the potential to spur additional development projects and much needed economic renewal in one of the state's largest urban centers. 

Mayor Donald Grebien and the City of Pawtucket also deserve much credit for their willingness to fund $15 million, or 18 percent, of the project and for working to ensure that the ballpark aligns with their efforts to enhance the city's recreational, housing, cultural and business development opportunities along its downtown and riverfront.