A rendering of what the stadium might look like. (Baylor University)

WACO (June 20, 2012)—The $250-million on-campus football stadium for which Baylor University is now raising money would generate new jobs and hundreds of millions of dollars in local economic activity, according to a just-completed study by Waco’s Perryman Group.

“The new stadium and related development will lead to positive effects on business activity in the Waco area during the construction process, ongoing operations of the stadium itself as well as new restaurants, retail stores, and hotels,” the report says.

“The enhanced venue will also lead to incremental spending by additional visitors and those who presently attend games.”

The benefits would extend beyond the initial impact, the report says, stemming from increased purchases, higher payrolls and by extension increased consumer spending.

“In particular, it will be a catalyst and synergetic component of other proposed projects along the Brazos River corridor,” the report says.

The study estimates that the boost in economic activity would translate to an increase in tax receipts of almost $415 million over the first 20 years of the stadium’s operation.

The stadium architecture firm Populous has been hired to develop a master plan for the stadium, the preferred site for which is along the Brazos River next to Interstate 35 across from the Highers Athletics Complex.

Plans for the stadium on the 93-acre site along the interstate call for 45,000 seats with the flexibility to expand to 55,000, canopy shading, suites, loge boxes, indoor and outdoor club seating and an event center and Stadium Club for year-round use, the university said.

A bridge across the Brazos River will connect the facility to the main campus.

Baylor is the only school in the Big 12 that doesn't have an on-campus stadium.

The Bears have played at Floyd Casey Stadium off South Valley Mills Drive since 1950.

Before that, games were played at Waco Municipal Stadium on Dutton Avenue.

There hasn't been a field on the campus since the 1930s.

The school has received three major donations for the facility, the first of which came from Temple businessman Drayton McLane.