An economic forecast from the University of the Pacific shows the building of a new arena in downtown Sacramento will provide the region with fiscal shot in the arm.

The forecast from the Business Forecasting Center suggests there's risk to the City of Sacramento's general fund because of a $258-million city contribution to the proposed project, but lead economist Jeff Michael tells the Sac Bee the payoff should offset the risk.

City officials believe the project will generate thousands of jobs, and they say the finished arena will generate millions of dollars in revenue each year.