Report: Coliseum closure would have chilling effect on economy

With less than two weeks before the referendum on the Nassau Coliseum redevelopment plan, local business owners and officials say the county's economy would suffer

UNIONDALE - With less than two weeks before the referendum on the Nassau Coliseum redevelopment plan, local business owners and officials say the county's economy would suffer a severe blow if the project falls through.

Frank Borelli says about one third of the business at his restaurant comes from Coliseum traffic generated by hockey games and concerts.

Borelli is among those pushing for the passage of the $400 million redevelopment plan that would keep the Islanders in Nassau.

According to an independent economic analysis released by County Executive Ed Mangano's (R-Nassau) office, nearly 2,000 jobs would be lost if the Coliseum shuts down.

The report shows that with fewer ticket sales and hotel stays, the county would lose millions in sales and entertainment taxes. However, economist Thomas Conoscenti says the county has overstated the estimated losses.

Even if the referendum over the project fails Aug. 1, Conoscenti doubts the Coliseum would ever close completely. Nassau Coliseum public meetings schedule

NIFA raises red flag over Coliseum projectQuestions arise over vote for new ColiseumNIFA: Nassau's revised 2011 budget still not balanced Exec. Mangano previews Nassau's revised budget plan

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