Stadium Bond Sales Revive as Minor League Baseball Shuffles Deck.

Spartanburg, South Carolina has sold $63.8 million in revenue bonds to build a stadium for the Hub City Spartanburgers, a Low-A level affiliate of the Texas Rangers. The stadium, Fifth Third Park, is expected to cost $100 million and open in time for the 2025 season. The bonds are backed by a mix of rent, fees, and taxes, with the city and county contributing an additional $59.4 million to the project. This investment in minor league baseball reflects a trend of stadium bond sales increasing as the sport recovers from the pandemic. The move of the Down East Wood Ducks from Kinston, North Carolina to Spartanburg is part of a larger trend of teams being sold and relocated. The stadium is expected to drive economic activity in the city's downtown area and attract private investment. While stadiums may not always be an engine of economic development, they do provide social and cultural benefits to municipalities. [Extracted from the article]