A group of top Chicago business and community leaders have thrown their support behind the Cubs’ plan to renovate Wrigley Field and the adjacent Triangle Parcel, the Cubs announced on Tuesday.
The plan, which includes a $400 million investment in Wrigleyville, gained the support of local leaders by illustrating that the results would have a strong positive effect on the local and state economies. In all, the development project is slated to create 1,000 construction jobs and hundreds more permanent jobs.
“This is a public/private partnership that will put people to work and preserve Chicago and Wrigley Field as a premier tourist destination for generations to come,” Cubs chairman Tom Ricketts said in the written announcement. “I want to thank the labor, business and community leaders who have come out today to lend their support and help us win approval of our plan to preserve Wrigley Field and create jobs. This is how economic development projects are supposed to work.”
In addition to the job benefits, renovating Wrigley Field and the Triangle Parcel is estimated to result in more than $3 billion in economic growth for the area over the next 35 years, according to the Cubs’ release. The allure of preserving historic Wrigley, a year-round tourist spot, was also key in earning the support of community leaders.