Cleveland‘s Mayor estimates the Browns’ decision to build a new stadium could cost the downtown $ 30 million every year

CLEVELAND, Ohio (WOIO)—Business owners in and around Cleveland were disappointed to hear that the city is on the losing end of the Browns' stadium tug-of-war. Hotels, shops, bars, and restaurants will have to figure out how to make up the money that will be lost once the team moves out of Cleveland and over to Brook Park and a new dome stadium. and the city: "

Cleveland Mayor Justin Bibb says the decision by the Browns' owners comes at a real cost to downtown businesses and the city: "We've already commissioned an economic impact study, which estimates the negative impact of the Browns leaving at more than $30-Million a year. The development of a new facility in Brook Park will create a new competing entertainment complex that threatens the viability of existing downtown sports and convention venues that the city, county, and state have already heavily invested in public subsidies."It's

Dr. John Burke, a Professor of Economics at John Carroll tells 19 News that the decision, "It's a disaster for the city of Cleveland."

That's because many downtown businesses consider Browns' football their bread and butter, "One more business that's pulling out of Cleveland and going somewhere else," Dr. Burke said.

Laurie Torres is the Owner of the downtown restaurant Mallorca, and she feels the move by the Browns is not just about the loss of revenue businesses will experience, "It looks bad. It looks like the team that's been supported by the city for some years has kind of given up on the urban center."

Joseph Valenti is the Owner of Flower Child Vintage which benefits when the Brown's games are in town. He feels when businesses are threatened by a loss in revenue, so are their employees and that's going to hurt, "Here's a whole layer to the city when you see people on bikes in the morning, they're going to their jobs, working in restaurants, cleaning hotels. There's a whole underbelly. All those people will be affected by this decision."

The city of Cleveland will also feel the loss in taxes paid by Browns' employees, "That payroll is now going to disappear and the income taxes on that payroll are going to disappear," Dr. Burke said.