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ABSTRACT:  Academic researchers continue to challenge the popular perception that new or renovated stadiums are catalysts of economic development. Despite basketball arenas generally having lower construction costs and being more multipurpose, past studies have disproportionately examined professional baseball and football stadiums. Using the most recent data, this study investigates the economic impact of professional basketball arenas. After controlling for a range of covariates past research has identified as possible predictors, I find little evidence that basketball arenas are primary catalysts of development. I conclude that the context of the city, not the facility, is what drives the economic development capacity of basketball arenas.