RIVERSIDE – Riverside County supervisors today endorsed a proposed professional football stadium in the city of Industry — a location one board member said would offer advantages to Inland Empire residents that a proposed rival venue in downtown Los Angeles could not.
The $800 million Los Angeles Football Stadium at Grand Crossing is a venture of Industry-based Majestic Realty and would encompass 600 acres on the border of Industry and Diamond Bar, roughly 30 miles west of Riverside.
”This is ready to go,” said Supervisor Marion Ashley, who authored the unanimously approved resolution stating the county’s support for the project. ”This stadium would be the easiest to get to, create less traffic problems. It would be right on the Metrolink line. There are many advantages. It’s badly needed.”
The resolution highlighted the 18,000 new jobs that would be created during and after construction of the 75,000-seat stadium, the estimated $762 million in economic activity it would stimulate and $21.2 in new tax revenue for regional governments.
Ashley and Chairman Bob Buster lauded the benefits of a ”centrally located” stadium that would be accessible from freeways linking the Inland Empire to Los Angeles and Orange counties, unlike a rival stadium proposed for downtown L.A.
The Anschutz Entertainment Group has put forward that billion-dollar plan, which calls for a 64,000-seat venue on the site of the Convention Center’s West Wall. AEG is seeking $350 million in municipal bonds to cover part of the cost of building the new exhibition space.
A committee comprised of five Los Angeles City Council members was formed last month to study the proposed Downtown Stadium and Events Center.
No National Football League franchise has committed to either proposed location. Team owners locked out players in March following a breakdown in labor negotiations. A federal court ruling on whether the lockout should be lifted is expected any day.
Los Angeles has not had an NFL team since the Raiders went back to Oakland 16 years ago.
The project in Industry is described as ”shovel-ready” and can be completed by 2012, according to Majestic Realty.