In early February 2025, during the presentation of the state budget, Governor Mike DeWine unveiled an innovative proposal aimed at financing future stadium projects throughout Ohio through an increase in sports gaming taxes. HSG has not been involved in these discussions and is awaiting further developments on this initiative.

“Having options is beneficial,” Jenkins stated. “These are intricate projects that require diverse perspectives to determine the optimal approach. By incorporating this into the budget, we appreciate the acknowledgment of how essential these facilities are to our local communities. We look forward to collaborating with them on this matter.”

HSG aims to ensure that the proposed enclosed stadium becomes a sustainable community asset extending beyond its initial 30-year lease, addressing future capital repair needs in its funding strategy.

If Cuyahoga County contributes to the initiative and integrates the Brook Park revenue streams, the considerable surplus in local tax revenues generated by the project will cover the debt service on bonds, capital repairs—which are estimated to be around $400 million over the 30-year lease term—and other expenses.

“This approach facilitates funding for capital repairs,” Jenkins explained. “It allows us to address infrastructure and various city or regional requirements. However, it requires all stakeholders to come together, identify, and prioritize needs to maximize the benefits from the surplus funds.”

In summary, the economic implications of a project of this scale will resonate throughout the region. A new enclosed stadium in Brook Park, serving as a cornerstone for a large mixed-use development featuring year-round events, is poised to create approximately 5,400 permanent full-time jobs and 6,000 construction positions. This initiative represents a transformative economic and fiscal opportunity for the area, utilizing 176 currently vacant acres conveniently located near downtown and the airport.

The national real estate consulting firm RCLCO anticipates an annual economic impact of $1.3 billion.

Over the course of the initial 30-year lease, the combined efforts of the state and local governments, alongside the Browns’ operations, are expected to yield a fiscal impact and tax revenues totaling $6.3 billion. Specifically, at the local level, the project—coupled with additional proposed county taxes on visitors—could generate around $3.4 billion in fiscal benefits and tax revenues.

“We are thrilled at the prospect of having a domed stadium, a revamped airport, and a developed lakefront, all coming together,” commented Dee Haslam, Managing and Principal Partner. “A significant portion of the funding for the lakefront and some downtown developments will be derived from our efforts at Brook Park. We are genuinely excited about the possibility of creating a community that can achieve it all. We just need to unite our efforts to make it happen.”