America’s sport is football. Football has been apart of American culture for generations, but now it is under fire. Critics say that the sport is too violent and the costs of the game just do not reap the deserved benefits. Economists debate whether having a team in a city is a positive impact or if the team does not affect the economic culture at all. But from an economic standpoint, a football team has a positive impact on the city through bringing fans, who will spend money, which will trickle down to the taxpayers of the city itself.
Quite possibly the biggest game of football each year around the world, the NFL championship or the Super Bowl is a magnet when attracting fans. Fans and people from around the world converge on cities …show more content…
The Super Bowl in 2015 generated $719.4 Million in total revenue. With the news of a second team coming to LA, projections from the LAEDC Institute for Applied Economics, a non-profit, public benefit organization that does projections for private sector in the LA community, can be taken more seriously. They project that two teams would generate $387 Million on site and an addition $3 million with off site revenue with two teams at the new stadium (Institute Applied Economics 8). It’s easy to forget that the NFL also has a huge impact on small markets like Green Bay. In a study conducted by AECOM, a Fortune 500 company that provides economic research for developments, found that fans in Green Bay generate $204 million in off site spending during home regular season games (AECOM 16). Football’s popularity provides a huge turnout to stadiums no matter the market size. On an even more local scale, surrounding restaurants and bars in the Madison, Wisconsin area are impacted greatly during home Badger football games. The Isthmus, a local newspaper in Madison published an interview with Angela Genin, general manager of Lucky’s Bar and Grill, she says home games account for about 40% of the bar’s annual revenue (Levitan 1). Lucky’s among others, hires extra staff to help keep up with the demand (Levitan 1). Madison like other campuses on …show more content…
In Atlanta, the new Mercedes Benz Stadium is expected to boost the citizens of Atlanta personal income by a combined $72 million and $168 million for the state of Georgia (Seaman 2). Also the new stadium will provide the taxpayers in Atlanta lowers taxes, because in the old stadium they had to pay for the operating costs every year but now they don’t pay a single dime for the stadium other than building it (Seaman 6). In the City of Inglewood, where the LA Rams and Chargers are going, is receiving a bump in GDP. With two teams at the new stadium, there would be $1.4 billion added to the regional GDP and an increase of $2.6 billion in total revenue for local businesses (Institute Applied Economics 1). In a study done by Michael C Davis of Missouri S&T, the data suggest that
Quite possibly the biggest game of football each year around the world, the NFL championship or the Super Bowl is a magnet when attracting fans. Fans and people from around the world converge on cities …show more content…
The Super Bowl in 2015 generated $719.4 Million in total revenue. With the news of a second team coming to LA, projections from the LAEDC Institute for Applied Economics, a non-profit, public benefit organization that does projections for private sector in the LA community, can be taken more seriously. They project that two teams would generate $387 Million on site and an addition $3 million with off site revenue with two teams at the new stadium (Institute Applied Economics 8). It’s easy to forget that the NFL also has a huge impact on small markets like Green Bay. In a study conducted by AECOM, a Fortune 500 company that provides economic research for developments, found that fans in Green Bay generate $204 million in off site spending during home regular season games (AECOM 16). Football’s popularity provides a huge turnout to stadiums no matter the market size. On an even more local scale, surrounding restaurants and bars in the Madison, Wisconsin area are impacted greatly during home Badger football games. The Isthmus, a local newspaper in Madison published an interview with Angela Genin, general manager of Lucky’s Bar and Grill, she says home games account for about 40% of the bar’s annual revenue (Levitan 1). Lucky’s among others, hires extra staff to help keep up with the demand (Levitan 1). Madison like other campuses on …show more content…
In Atlanta, the new Mercedes Benz Stadium is expected to boost the citizens of Atlanta personal income by a combined $72 million and $168 million for the state of Georgia (Seaman 2). Also the new stadium will provide the taxpayers in Atlanta lowers taxes, because in the old stadium they had to pay for the operating costs every year but now they don’t pay a single dime for the stadium other than building it (Seaman 6). In the City of Inglewood, where the LA Rams and Chargers are going, is receiving a bump in GDP. With two teams at the new stadium, there would be $1.4 billion added to the regional GDP and an increase of $2.6 billion in total revenue for local businesses (Institute Applied Economics 1). In a study done by Michael C Davis of Missouri S&T, the data suggest that