Vikings Stadium: Minnesota Does the Right Thing for Their Economy and the NFL

The Minnesota Vikings are a signature away from securing a new stadium, a move that is the best possible outcome for the state of Minnesota and for the NFL.

NFL.com reported that the Minnesota Senate approved the $975 million measure to finance the new stadium and that Governor Mark Dayton has said he'll sign the bill into law.

This is fantastic news for the city of Minneapolis.

Many people don't realize just how many people are employed by an NFL franchise—let alone how many people make their living working at the stadium. Not only will the city be able to keep those jobs, but also now they are creating a ton of new jobs in the construction industry with the new project.

Vikings.com states of this massive project, "1,600 construction workers will work over 900,000 hours in just the first year of construction."

Furthermore, throughout the course of the three-year construction effort they expect "nearly 4.3 million work hours with almost $300 million in wages for construction workers will be required for this project."

That may not sound like a ton of work when compared to the massive national unemployment numbers, but there will be at least 1,600 families that will have much better economic security during this time than they would otherwise have had.

Vikings.com is also reporting that "the economic activity from a new stadium will generate over $26 million per year in tax revenue and over $145 million in direct spending by Vikings fans inside the State of Minnesota."

It's easy to see why the state legislature was eager to get the deal done. Money talks and having a new stadium attracts more than just football. Concerts, conventions and other sporting events all pay good money for the use of such a venue, and this deal will provide an influx of cash.

As for the NFL, this deal makes sense because it's always better to keep teams in the community that supports them. Relocations aren't guaranteed to be successful, and it isn't easy building a new fanbase.

I know from experience that Vikings fans are among the most loyal and fervent of supporters you're going to find. They are passionate about their team, and it would have been a shame to see a team that had been entrenched in the city of Minneapolis since 1960 look for better options elsewhere.

Things are looking good up in the far North. Now all we need is one little signature...

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