Well, I could have seen this coming a mile away. As Scott Hudson and I discussed on our podcast before the Denty was built, the industry wasn’t really moving in a direction of big sold out concerts. The Premier Center was a splash in the pan, but unfortunately, we have to pay the mortgage and maintenance on the facility for its life.
Part of the issue was the way the bonds were passed to build the facility. It was many first time voters that didn’t know that it was an advisory vote (a real bond election would have required a 60% passage). If it would have been a REAL bond election, the EC would have failed.
I still think remodeling the Arena, turning the current convention center into a recreational facility and moving the Convention Center downtown would have been a better choice.
I had a person ask me the other day what I thought were Sioux Falls’ best years since I have lived here. (He moved here with his wife in 2010 and runs a successful small business). I told him that golden years were between 1997-2007. Downtown Sioux Falls was full of great live music and live music venues and was really a great place to be. I think we could have continued that trend if it were not for the 2008 recession. I don’t think the Sioux Falls middle class really bounced back from that recession. Wages were frozen throughout the city for several years and the only ones moving forward were the welfare queen developers who were cashing in on all the tax incentives. I think that ruined Sioux Falls, growth for growth sakes.
If the 2008 recession could have been avoided, and we throttled back on the growth in 2007 we would be a much better community for it. But hey! At least we have a dented up empty can to be proud of.