First Arena’s Future Brightens

The fate of Elmira, N.Y.’s First Arena has been up in the air for a while, but that situation may be settled as soon as January.

facebook.com/firstarena – First Arena
in Elmira, N.Y.

Chemung County Industrial Development Agency reportedly took over operations for the 5,000-capacity First Arena and its tenant, the ECHL’s Elmira Jackals, in June.

County officials have been seeking experienced buyers for the popular but monetarily draining venue ever since.

Mike Krusen, head of Southern Tier Economic Growth, which supports the Chemung County agency, said there’s an interested buyer but didn’t reveal who that party is.

Krusen said the buyer knows that the arena, and the Jackals, aren’t likely to make money.

“Now the person hopes that they can drive to break even. That’s what this person’s goal is, to break even,” he explained. “Not to say ‘oh geez, I made a million dollars on hockey in Elmira last year.’ That’s not going to happen.”

The new owner will have an arena that needs significant upgrades that could cost as much as $6 million, WSKG-FM said.

The Star-Gazette previously reported the arena, appraised at $8 million, is losing $600,000 annually despite being one of the city’s largest downtown attractions.