A study released Wednesday says that building a waterfront baseball stadium in Oakland would generate $2.6 billion in total economic output over 30 years and save and create 1,047 permanent jobs.
The study by the consulting firm Gruen Gruen + Associates, which has offices in San Francisco and Chicago, also says that during the three-year construction of a new stadium 1,661 jobs would be created and there would be $790 million in total economic output.
Oakland Mayor Ron Dellums hailed the report as providing a good reason for the Oakland A's to remain in Oakland.
The A's have played at the Oakland Coliseum since they moved to Oakland in 1968, but they've been trying to build a new stadium for many years.
A's owner Lew Wolff said last year that he is no longer interested in trying to have a new stadium built in Oakland and more recently has said he's interested in moving the team to San Jose. Wolff also considered building a stadium in Fremont recently.
Major League Baseball is currently studying proposals from Oakland, Fremont and San Jose to have a new stadium built in their respective cities.
Dellums said at a news conference at Oakland City Hall that he thinks the competition for being selected as the team's future home "is Oakland's to lose."
Major League Baseball hasn't said when it will make a decision about the team's future, but Dellums said, "I'm thinking the next three to four months will be critical.
Claude Gruen, whose firm conducted the study, estimated that a new baseball stadium would generate an additional $930 million in property tax values over 30 years to local governmental agencies.
Oakland A's spokesman Bob Rose said the team doesn't want to comment on the study or on the team's future because it's waiting for Major League Baseball's recommendation on the team's future home.
"We want to be respectful of the process," Rose said.