Dr. Michael L. Walden, a distinguished economist and William Neal Reynolds Distinguished Professor Emeritus at North Carolina State University, self-funded and published a full, 51-page economic impact study on the feasibility of MLB in both Raleigh and Charlotte, NC.
Walden has been involved in numerous economic impact studies, particularly focused on North Carolina’s economy and public policy over his 43-year career. He is also the President of Walden Economic Consulting and is considered an expert in state economy and public policy, authoring 15 books and over 330 articles on topics surrounding North Carolina economics.
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A new study, conducted and funded independently by top NC State economist Dr. Michael Walden, says Raleigh is a prime candidate to bring a Major League Baseball team to North Carolina, outshining even Charlotte.
The extensive study looked at all possible expansion markets, considering all aspects, including local interest and planning momentum, population growth, leisure-time saturation, schedule overlaps, proximity to existing MLB teams, and proven sports support.
The report also focuses on the feasibility of Raleigh vs. Charlotte and finds that both have the growth, fan support, and planning to make it a top pick for an MLB franchise, promising a big economic boost; however, Raleigh is slightly ahead when it comes down to the final numbers.
According to Walden, by having the team in Raleigh (Wake County), you would see higher employment numbers, higher overall economic output, and more revenue for the cities, county, state and federal government over the course of a season. Having the team in Charlotte (Mecklenburg County) would bring slightly higher labor income.
The overall numbers point to Raleigh as a slightly better option for MLB, but Walden goes into great detail showing his methodology in getting those numbers, including…
Looking at the total annual impact of Local Broadcasting and Advertising Contracts
Where a team in Wake County (Raleigh) is likely to create more employment and have a higher overall output in this area, but Charlotte leads in labor income. The public impact once again points to Wake County (Raleigh), with more money being created for the municipalities, county, state, and federal governments.
Looking at the total private sector impact of an annual MLB season
Where a team in Wake County (Raleigh) shows higher employment, slightly lower labor income and slightly higher overall output.
Looking at the total public sector impact of an annual MLB season
Where a team in Wake County (Raleigh) shows higher total revenue for municipalities, county, and federal government. But lower in state government revenue.
The study also touches on stadium construction, which is not recurring, but is worth noting both on the public and private sector side…
This is where Mecklenburg County made up ground, with higher labor income and higher output in both areas, while also creating slightly more money for the municipalities, county, state, and federal government, while Wake County led in total employment numbers.
Building a stadium in Raleigh would create about 5,500 jobs and add $1.14 billion to the local economy. Once games start, expect 2,000–2,500 permanent jobs and $345 million in annual spending from fans on tickets, food, and gear. The city could see $2.3 million in new tax dollars yearly, with Wake County gaining $3.6 million.
Walden’s focus on answering the feasibility question also looked at other potential markets, and while only Raleigh, Salt Lake City, Portland, Nashville, and Orlando have active expansion groups, he added others who have been mentioned in the media over the past few years to cover all potential bases.
So how did Raleigh compare to the eight other potential MLB cities: Mexico City, Montreal, Nashville, Orlando, Portland, San Antonio, San Jose, and Salt Lake City?
Overall, Raleigh ranks in the top 50% on most key metrics (population, growth, earnings, media market, distance from existing teams), making it highly feasible—especially as a growing, untapped Southeast market without the international complications or saturation issues of others. It doesn’t lead in raw size but shines in future potential and low risks, positioning it ahead of slower-growth or crowded spots like Nashville or Orlando.
- Growth: Raleigh’s 45.8% projected growth to 2050 ranks 2nd (behind only San Antonio’s 60.7%). This beats Nashville (12.5%, 9th), Orlando (21.3%, 5th), and Charlotte (20%, 6th), forecasting a bigger fan base than stagnant markets like Mexico City (0% growth, 10th).
- Worker Earnings (Price-Adjusted): Raleigh ranks 5th ($1,015 weekly), in a tight cluster with Portland (3rd, $1,069) and Charlotte (4th, $1,060). It outperforms Nashville (6th), Orlando (8th), and internationals like Mexico City (10th, $239), indicating strong ticket-buying power without San Jose’s sky-high costs (1st, $1,374).
- Media Market Size: Among the 8 U.S. contenders (excluding Mexico City/Montreal), Raleigh ranks 4th (up 2 spots recently), behind San Jose (1st), Orlando (2nd), and Charlotte (3rd). It edges Nashville (6th) and Salt Lake City (7th), suggesting solid TV/radio reach for broadcasts and ads. (it’s worth noting that San Jose shares a media market with the SF Giants.)
- Distance from Nearest MLB Team: Raleigh ranks 3rd (277 miles to Washington, D.C.), a big plus for building a unique fan base. It’s behind only Salt Lake City (1st, 521 miles to Denver) and Montreal (2nd, 308 miles to Boston), but ahead of Nashville (4th, 248 miles to Atlanta), Orlando (9th, 84 miles to Tampa), and San Jose (10th, 56 miles to San Francisco)—avoiding territorial fights.
- Leisure-Time Saturation: (lower rank is better here) – Raleigh ranks 7th (0.6% of spending on leisure), meaning low current saturation and more room for baseball fans. This trails tourist-heavy Nashville (1st, 4.1%) and Orlando (2nd, 4.0%), but beats San Jose (8th, 0.5%), reducing risks of overcompetition from existing entertainment.
- Other Strengths: Raleigh has proven pro sports success (Hurricanes’ high attendance), minimal schedule overlaps, and complies with the “30-minute drive rule” for most nearby towns. Challenges for others—like Mexico City’s altitude/currency issues, Montreal’s failed Expos history, or Portland/San Antonio’s proximity to rivals (Seattle/Houston)—don’t apply. Raleigh’s overall top-50% rankings, plus local momentum (stadium sites, Dundon interest), make it more feasible than Nashville (weaker growth/earnings) or Orlando (crowded Florida market).
Walden says Raleigh’s growth and enthusiasm make MLB entirely feasible, with the numbers hinting that it’s a standout amongst likely expansion candidates.
This is the first professional, third-party economic study done on MLB’s feasibility in North Carolina, and it shows what we’ve all expected all along. North Carolina is primed for Major League Baseball, and locating the stadium in Raleigh gives us the best chance to land an expansion franchise when the league adds two new teams in the coming years.