The Stephenville Economic Development Authority has published a list of potential economic impacts associated with the closure of Lone Star Arena.
Twisted J Apparel CEO Cody Johnson had requested financial assistance for the purchase of up to $1.2 million from SEDA.
It was discovered Thursday that Lone Star Arena sits outside the city’s extraterritorial jurisdiction, and thus SEDA has no authority to act on the matter.
SEDA executive director John Hubbard suggested that Lone Star Arena could be a $30 million economic driver for Stephenville.
The loss of the area’s only large event center could be devastating financially, and could jeopardize Stephenville’s claim as the Cowboy Capitol of the World.
Source: Local News