Spaces for Play: The Impacts of Entertainment Development on New York City

The economies of many American cities have shown signs of recovery after the deindustrialization of the preceding two decades. Tourism has been one of the principal components of inner-city economic growth. Although building facilities for tourists represents a gamble for urban leaders, numerous examples of success exist. New York City possesses a sizable competitive advantage in the tourism sector The authors examine New York's tourism market. Case studies are presented of three tourist-based developments: the Jacob Javits Convention Center; the 42nd Street entertainment district, and a proposed stadium plan for the Yankees. These cases are typical of the type of tourist-based developments currently being pursued by many U.S. cities. It is concluded that tourism facilities are promising investments; this is tempered by considerations relating to the high levels of public subsidy demanded for projects-like the proposed Yankee Stadium development-that do not offer a sufficient return on public subsidy.