Red Wings New Home And Surrounding Area Will Cost Taxpayers Almost $300 Million

DETROIT (WWJ) - The massive entertainment complex surrounding the new Red Wings arena will cost around $650 million, $283 million, of which, will come from taxpayers. But as Ilitch Holdings CEO Chris Ilitch explains, the project is expected to create many permanent and temporary jobs.

"First and foremost this project will be all about new jobs - it's importantly going to produce over 8,300 new jobs related to the construction of everything that will occur over the next three years but very importantly 1,100 permanent jobs that will stay there after," said Ilitch.

Chris Ilitch is one of those in charge of the project and he credits lawmakers in Lansing to help add public money to the project:

"Public and private components and without both of them, these type of things can not happen. And quite frankly, this is what they are designed to do - make a large and transformative and catalytic type of development that makes a positive impact on the entire community," he added.

Ilitch also said the plan is to have Michigan-based companies be used for the available retail space and to use materials from the state when possible.

"I think they've never looked back, they have decided that this is their home and they want to do everything they can to make it a better place for everybody that lives in the city. And so we are happy to step up and try to do something that can be a great community benefit."

The Ilitch's also own the Tigers and Comerica Park and public money was used to finance about 40 percent of that stadium.

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