Philadelphia budget cashes in on Flyers victories
Tuesday, May 25th, 2010
After beating the Montreal Canadians, the Philadelphia Flyers are in the Stanley Cup Finals. That is a good thing for the area economy and the city's budget.
Mayor Michael Nutter says the deeper the hometown team goes in the Stanley Cup playoffs, the more money the city and the local economy get.
"Any extended play, because obviously we can only count when we do budgeting we can only count on the regular season play, we obviously have no way of knowing when we are budgeting who's going to be in what playoffs. Definitely helps not only on wage tax but we should see an uptick in jerseys and t-shirts and hats and all the other paraphernalia."
The city is guaranteed two home games which means revenues from a number of taxes–everything from player salaries to tickets to concessions to jersey and memorabilia sales. As for a potential victory parade and paying for it, the mayor says he would be happy to have the challenge of figuring it out.