SPACES FOR PLAY - THE IMPACTS OF ENTERTAINMENT DEVELOPMENT ON NEW-YORK-CITY

The economies of many American cities have shown signs of recovery aft er the deindustrialization of the preceding two decades. Tourism has b een one of the principal components of inner-city economic growth. Alt hough building facilities for tourists represents a gamble for urban l eaders, numerous examples of success exist. New York City possesses a sizable competitive advantage in the tourism sector The authors examin e New York's tourism market Case studies are presented of three touris t-based developments: the Jacob Javits Convention Center the 42nd Stre et entertainment district, and a proposed stadium plan for the Yankees . These cases are typical of the type of tourist-based developments cu rrently being pursued by many U.S. cities. It is concluded that touris m facilities are promising investments; this is tempered by considerat ions relating to the high levels of public subsidy demanded for projec ts like the proposed Yankee Stadium development-that do not offer a su fficient return on public subsidy.