Washington Redskins is paying off for the county, according to its economic development staff, though the "value" of a press backdrop or an on-air mention isn't likely to erase the angst surrounding the agreement.
Recent Washington Post reports suggest
community frustration over Loudoun's decision to spend $500,000 a year
in transient occupancy tax revenues to pay off the county's $2 million
debt to the Redskins. According to a Loudoun staff report, transient
occupancy taxes may be used to promote tourism, travel or "business that
generates tourism of travel in the county." The economic development
department contends that's exactly what the Redskins do.
The total estimated value of the marketing deal to the county between
April 1, 2013 and March 31, 2014, considered the 2013 season, was $1.4
million. For the 2012 season, the first year of the marketing deal, the value was $1.13 million.
"The county expects to receive over $8 million in total value over
the term of the contract; approximately four times the county’s
investment," Buddy Rizer, the county's economic development chief, wrote
in the report. More here.