Building Advantage Joins Play It Forward Coalition
The labor and management group announces partnership to promote new Bucks’ arena and entertainment district development
Building Advantage, an organization that promotes the union construction industry, announced its support Monday for the Play it Forward Coalition, a partnership centered on promoting the downtown development of the new Bucks’ Arena and other proposed ancillary projects in the Park East Corridor.
The development of the new Bucks’ Arena will add significant value to the area and complement the nearby businesses. “The plans for the new Bucks’ arena and downtown entertainment district will not only bring visitors and residents to Milwaukee, but also generate tremendous development and career opportunities for the local economy,” Building Advantage Executive Director Ken Kraemer said.
According to an independent study titled “The Impact of Construction on the Wisconsin Economy”, 14 jobs are created for every $1 million spent on this type of Construction project, and every dollar spent generates $1.92 in economic impact. In the case of the $1 billion-plus arena project, this could translate into over 14,000 jobs – more than half of which will be in construction — and almost $2 billion in overall economic impact.
These jobs, as well as the tax revenue generated from this development will benefit both our local and state economy. This historic opportunity to transform 30 acres of downtown comes at a time that is incredibly crucial for Milwaukee residents and workers. Revitalizing the downtown area through the development of the new arena, along with entertainment space, apartments, bars, restaurants, and hotels has the potential to spur economic growth for the entire region.
Kraemer believes this project will have a very positive impact on the construction industry and the members that Building Advantage represents. “We are very excited to partner with the Play it Forward Coalition to keep the Bucks in Milwaukee while creating tremendous economic and job growth in our city.”