PBC Associates, LLC

Providence,

New Ballpark Feasibility Study

In 2015 PBC Associates, LLC—owners of the Pawtucket Paw Sox (the Boston Red Sox AAA International League affiliate), including Red Sox President / CEO Larry Lucchino—engaged B&D to complete a comprehensive feasibility study for a new downtown Providence AAA ballpark. The market analysis consisted of a detailed demographic assessment of the region, an analysis of attendance levels in comparable AAA markets, and the development of five-year attendance projections. The financial analysis included the development of an outline ballpark program, a full development budget, and annual operating projections that served as the basis for quantifying economic and fiscal benefits. Based on our market and financial analyses, the $85 million project would be expected to generate $15.3 million in direct activity during the construction period, support $20.4 million in direct wages, and create $1.64 million in fiscal benefit. Recurring operations would provide $14.9 million in annual direct economic benefits and support $7.8 million in Rhode Island wages. Annual fiscal benefits to the state and city were projected to total $2.4 million, creating $45.3 million in state benefits and $3.8 million in city fiscal benefits when measured over a 30-year time period. Our plan was used by PBC Associates as a critical tool in the public approvals process and its negotiations with the State of Rhode Island on the funding of the proposed project.