The following editorial appeared Sunday in the Everett Herald.

Now that details are known, a tax package to help fund a new multipurpose arena complex for the Seattle Sonics and Storm will be a hot topic in Olympia this week.

It matters not only in King County, where the arena would be built and where all the taxes for it would be collected, but throughout the Puget Sound region – and not just because Sonics and Storm fans want their basketball teams to stay here. We’re talking about a venue that could house a National Hockey League team, draw major national sports events like the NCAA basketball tournament and host national political conventions.

The economic benefit of such an asset would spread far beyond King County. If the details remain as presented last week, it’s a good deal for the region.

Sen. Margarita Prentice, D-Renton, chairwoman of the Senate Ways and Means Committee, is sponsoring the plan, which would allow the extension of existing King County taxes paying for Safeco Field and Qwest Field, the homes of the Mariners and Seahawks – a combination of taxes chiefly on restaurant tabs, rental cars and hotel rooms.

Extending those taxes past their current expiration dates figures to raise more than the $300 million public investment Sonics owners say they’re seeking for the estimated $530 million project. Excess dollars would be earmarked first for arts and cultural activities, then to maintenance of existing stadiums.

Leaders must take a long-term view of our growing region and make appropriate investments now. Primarily, that means investing in education and transportation, and we have a long way to go on both. But those needs don’t preclude making smart investments in economic development and regional pride.

It’s an unfortunate reality that professional sports don’t survive in most regions without substantial public investment, but it’s reality nonetheless. This plan would keep the Sonics and Storm in the area, just as the stadiums in Seattle kept the Mariners and Seahawks here. (During testimony Tuesday, Sonics owner Clay Bennett announced that the team wants the venue to be in Renton, according to the Seattle Times.) The possible addition of an NHL team would create thousands of new hockey fans, enhancing the already strong interest in the Everett Silvertips. A major convention and meeting center could help draw new major businesses to the area.

A world-class arena and convention center offering multiple benefits with little effect on taxpayers, especially outside of King County. That’s an opportunity lawmakers throughout the region should seize.