I have a couple of items to pass along, to mark the, uh, joyous occasion.
About $20 million annually was used to breath life anew into Minneapolis neighborhoods. Today, that program struggles to cobble together around $4 million.
That’s because payments on the city’s spending bender are now coming due.
According to the city Finance Department, Minneapolis is on the hook for about $1.6 billion in debt and operational costs for the convention center, the Vikings stadium, and the Timberwolves arena over the next 20 years.
Broken down, that’s an annual three checks adding up to $80 million, money that’s off the table for paving East Franklin Avenue, fixing swings at Kenwood Park, or financing low-interest business loans on West Broadway.
If you’re a member of Minneapolis’ creative industry, you helped contribute $4.5 billion to the local economy last year.
That’s the finding of a report into the value of the city’s arts and culture workers released (in June). It shows creative jobs grew by 10.4 percent in 2015 – ahead of the 7.2 percent rise seen across all jobs in Minneapolis.
And despite Minneapolis being home to the Vikings, Twins, Timberwolves and Lynx, the $4.5 billion revenue generated by the creative sector dwarfs that made by the sports industry by eight times.
(Bring Me The News)