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Annual Truist Park and Battery Atlanta report shows development hit a major milestone in 2022

Fans watching a game at Truist Park
May 9, 2023

Annual Truist Park and Battery Atlanta report shows development hit a major milestone in 2022
Battery Atlanta generates more property tax income than resident’s share for the first time

May 9, 2023 - The Battery Atlanta complex hosted more than ten million visitors last year, an economic engine that generated record tax revenue for the county.  Cobb’s Board of Commissioners was told Tuesday that, for the first time, the Battery Atlanta complex was a net positive for Cobb taxpayers, generating more property tax revenue than the portion required by taxpayers for this year’s debt service.

The details came during the annual Braves and Truist Park report given each year to the Board by Finance Director Bill Volckmann. 

“This is a milestone moment for us in Cobb County,” Volckmann told the board.  “We netted 400 thousand dollars above and beyond the requirements for the debt service for the first time since this investment began.”

Volckmann’s figures showed the initial estimate of $6.4 million per year in debt service from the general fund was reduced to $2.1 million last year because other funding sources increased dramatically.  At the same time, the Battery Atlanta complex paid the county $2.5 million in property taxes.

“This is proof that the risk and the faith and the confidence you had in us nine years ago is providing a lot of impact in the county and community in a variety of ways,” said Mike Plant, President and Chief Executive Officer of the Braves Development Company.

“I think we’ve had 200 teams from all over the world come to (tour) the Battery and Truist Park.  We think we have the secret sauce, and they believe that too,” Plant said during the meeting.  “If you don’t have that public/private partnership working together, you will fail.  Fortunately, that’s the model of success because of our relationship and working together to achieve these results.”

The numbers show remarkable growth fueled by record interest in the Atlanta Braves and a development that remains a popular destination outside of the baseball season.  Taxable property values at The Battery Atlanta have risen from $5 million in 2014 to $736 million in 2022.  The stadium and development pumped $38 million in tax revenue to the county, state, and school district last year, with $9.4 million going to the Cobb Board of Education.

“We see a lot of value that is coming to the county and residents in the community from the development,” Chairwoman Lisa Cupid said after the presentation.  “We certainly know of the energy that site has generated and the ancillary development around the site because people want to be near that development.  So it is very good to receive this positive report.”

“What you are seeing is the evidence of intentional work and collaboration,” District 2 Commissioner Jerica Richardson said.  “I think that collaboration is critical to keep these numbers trending this way.”

“I think this goes a long way to show the vision that Chairman Lee had back then (in 2015) with Mike and the Braves,” said District 3 Commissioner JoAnn Birrell.  “I think to seal this deal, we need the Braves to win another championship!”

You can watch the presentation to the board by clicking here