Year after year, the deal that brought the Atlanta Braves to Cobb County has shown itself to be an economic promoter for Cobb County. Truist Park and The Battery Atlanta, programmed to attract Braves fans and visitors alike year-round with an unprecedented entertainment experience, has skyrocketed tax revenues, property values, and led to other windfalls since opening in the spring of 2017. During his annual update on Truist Park and The Battery, Cobb Commissioner Bob Ott shared facts and figures on debt obligations, property taxes and much more for the mixed-use development. Some of the facts presented:
- Year over year, the general fund’s portion for annual expenditures related to Braves development has fallen, from $8.1 million in 2017, to $5.8 million in 2018, and to $4.2 million in 2019. Ott expects that number to reach zero in the future, freeing up money in Cobb’s general fund and relieving obligations on county homeowners.
- Total taxes and fees (State and Local) collected from the Atlanta Braves and The Battery Atlanta increased year over year by $1.9 million from 2018, to a total of $19.1 million. This includes increases in sales and use taxes, as well as liquor, occupancy, and tourism/hotel/motel fees.
- Of the $19.1 million total collected, Cobb’s portion of the tax was $4.5 million (up $108K over 2018 collections), Cobb County Board of Education’s portion was $2.7 million (up $260K), and the State’s portion was $11.8 million (up $1.5 million).
- The property value of the land on which Truist Stadium and The Battery sits has increased from $5 million to $552 million, from prior to construction to present day, respectively.
With unique restaurants, retail options, state-of-the-art venues, living and co-working spaces, and more on the way, the Braves and The Battery seem poised to benefit Cobb County today, tomorrow, and far into the future. Newer taxes, such as hotel/motel and car rental fees, should only increase the amount of money brought in, as out-of-county visitors continue to pour into Truist Park and The Battery.
“We are so excited to see the partnership between the Atlanta Braves and Cobb County government flourishing,” said Dana Johnson, COO of the Cobb Chamber and SelectCobb. “The new revenue being created is exceeding the early projections. This is a testament to the success that has been created by the county.”
After years of planning and construction, and through myriad partnerships with community stakeholders and organizations, Truist Park and The Battery Atlanta is finally starting to provide serious return on investment—and has already set the table for a bright future.
“We have proved to the toughest critics that this public-private partnership has been an outstanding success,” said Johnson, “and we are excited to have financial proof that the investments made will have a positive return for the taxpayers of Cobb.“