Let’s look at the county’s side first: Public expenditures for Paycor Stadium, from its construction in 2000 through its expected lease end in 2026, are projected to total around $1.1 billion. That includes everything from the original build to maintenance and upgrades.
But let’s unpack that $1.1 billion figure, because while it’s technically accurate, it’s not being presented truthfully when the county uses it to justify the potential relocation of the Bengals.
The Misleading $1.1 Billion Figure
Of the $1.1 billion that the county claims to have spent on the stadiums, a large portion was already covered by the dedicated 0.5% sales tax raised specifically for the stadiums — an amount totaling $1.3 billion over 26 years. This money was directly allocated to construction, maintenance, and debt service for the stadiums.
Here’s where things get tricky: $450 million of that $1.1 billion was already accounted for in Paycor Stadium’s construction costs, which were financed primarily through the sales tax. 72.6% of the total stadium construction budget went to Paycor Stadium (Bengals). The remaining $650 million is what the county claims to have spent for the ongoing debt service, upgrades, and maintenance, and this is the figure being used to imply that taxpayers are still on the hook.
But when you subtract the $450 million already paid through the sales tax, the remaining costs that the county has supposedly covered out of their general fund amount to only about $650 million — not the full $1.1 billion.
I’m no accountant, but some of the county’s numbers just don’t add up. The way they’re presented makes it seem like the county has spent far more than it actually has from taxpayer funds. The sales tax has been covering much of the burden, and the county's role has been exaggerated when suggesting that they have paid for everything.
The Real Economic Impact of the Bengals
Now, let’s look at the other side of the equation — the revenue that the Bengals bring to Hamilton County. This isn’t just about football games. It’s about the dollars flowing into the local economy from merchandise, concessions, parking, restaurants, bars, and hotels. Over the past 26 years, the Bengals have generated an estimated $4 billion in economic activity. Here’s the breakdown:
- Ticket Sales (Regular Season): $630 million
- Concessions (Food & Drinks): $272 million
- Parking: $68 million
- Hotels (Visiting Fans): $163 million
- Local Dining (Game Days): $272 million
- Away Game Dining & Sports Bars: $613 million
- Merchandise Spending (Local): $306 million
- Major Events at Paycor (Concerts & Non-NFL Events): $339 million
- Playoff Games (7 Total): $195 million
What Does All This Mean?
Hamilton County may have spent $650 million of general funds, but over the last 26 years, the Bengals’ impact on the local economy has been far more substantial. $4 billion in total economic activity — and $79 million in direct sales tax revenue from this spending alone.
So yes, the county spent a portion of taxpayer funds to support the stadiums. But they also reaped nearly $80 million in tax revenue from the very activities being driven by the Bengals. Not only has the Bengals' presence generated a massive economic boost, it has more than covered the county’s costs through sales tax alone.
The Takeaway
It’s easy to get frustrated when you hear figures like $1.1 billion in public spending on a stadium. But context matters. That money wasn’t dropped into a void. It fueled local businesses, filled hotel rooms, created jobs, and gave this city a national spotlight. If the Bengals left, the hole they’d leave in the community wouldn’t just be emotional — it would be financial.
So when the next stadium deal is negotiated, it shouldn’t just be about cost. It should be about value.
Because at Holy Shock, we don’t just cheer for the Bengals. We understand what they mean to our city — in pride, in spirit, and yes... in dollars.
WHO DEY.
Disclaimer:
All of the figures discussed in this post are rough estimates, as there is no single comprehensive source for all the data we’ve reviewed. The estimates are based on available reports, general trends, and public data, but there are no definitive numbers available to fully quantify every element of the Bengals’ economic impact. As such, the numbers are intended to provide an overview, not a precise accounting of all financial flows.