From The Banner · Hayes Gardner,Rona Kobell · · 1m 30s
Baltimore County Grants Ravens $25 Million for Practice Facility
Baltimore County gives Ravens $25 million to keep headquarters in Owings Mills.
In brief
Baltimore County gives Ravens $25 million to keep headquarters in Owings Mills. Baltimore County will receive $218 million over ten years from Ravens' tax and economic benefits after a $25 million grant for practice facility improvements. Originally reported by The Banner.
Quick answers
- Why the Grant?
- County leaders want Ravens to keep headquarters in Owings Mills to preserve tax revenue and economic benefits.
- What is the key takeaway from Baltimore County Grants Ravens $25 Million for Practice Facility?
- Baltimore County will receive $218 million over ten years from Ravens' tax and economic benefits after a $25 million grant for practice facility improvements.
Baltimore County Grant
Baltimore County will give the Ravens $25 million for practice facility improvements over the next decade.
Why the Grant?
County leaders want Ravens to keep headquarters in Owings Mills to preserve tax revenue and economic benefits.
Ravens Headquarters
The Ravens practice and pay most taxes in Baltimore County, not Baltimore City.
Lease Agreement
Ravens will spend $70 million on upgrades to The Castle, with county and state adding $25 million each.
Tax Benefits
Ravens players pay $10.6 million in income tax annually, with additional property and PILOT taxes.
Economic Impact
Sage Policy Group estimates Ravens will generate $218 million for county over ten years through taxes and economic activity.
Lease Extension
Ravens will keep lease at M&T Bank Stadium until 2037, matching county lease term.
Purchase Option
Ravens can buy county-owned land at end of 10-year term for the facility.
Community Impact
Ravens provide economic boost through home sales, player movements, and community pride.
County Council Reaction
Council chair Mike Ertel says Ravens are a net plus for county due to community engagement and economic activity.
Potential Concerns
Some council candidates question financial commitment and lack of transparency before lease extension.
The main idea
Baltimore County will receive $218 million over ten years from Ravens' tax and economic benefits after a $25 million grant for practice facility improvements.
