I think Bham is contending that you can't build an economy focused on professional sports and events, which are heavily subsidized by taxpayers. Detroit was arguably the wealthiest city on earth during the 1920s, and it wasn't because of the Red Wings or NCAA.
Events are nice, but they're bread and circuses. I tend to agree with Bham that too much energy is expended on "attracting events" in lieu of making reasonable policy choices that can help to grow an economy.
Sure, Cleveland hosted the RNC in 2016, which attracted many visitors. But the locals stayed home, and most downtown restaurants that had not been rented out for the week did less business than usual. Even our public market--outside of downtown--that is usually busy on weekends and a tourist attraction in its own right, was absolutely dead during the convention. The real improvements have been incremental and painstaking, taking place with the construction of new housing and opening of small businesses.
If you want to be Indianapolis, though, go nuts.
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