A few weeks ago, I wrote an article on the possibility of the Minnesota Vikings making it to the Super Bowl and how that would affect the local economy. Well, the Vikings didn’t make it and were not the first team in NFL history to play a Super Bowl in their home stadium. The Minneapolis stadium ended up hosting the Philadelphia Eagles and New England Patriots. Although neither teams were local, here’s a look at how the Super Bowl affected the local economy.
In 2016, the Minnesota Super Bowl Host Committee estimated that over 125,000 people would visit Minneapolis for the big game. This report also predicted that there would be a net incremental spending of over $330 million in the state of Minnesota. Victor Matheson, a Sports Economist at the College of the Holy Cross in Massachusetts, analyzed these reports and estimated that the state would see a $30 to $130 million economic impact.
These estimated figures are HUGE – but what are the actual numbers and how large (or small) was the impact? Well, we can’t answer that yet. According to the Minnesota Public Radio, the Super Bowl Host Committee is currently studying the economic impact of the Super Bowl and but may not provide the public with facts on the game’s costs and benefits.
The Host Committee did announce that they do believe they had great success from the Super Bowl. “I don’t know if we could be happier,” Maureen Bausch, Host Committee CEO, said. “It really did go well.”
Before last Sunday’s game, the Committee raised over $50 million through private donations to help cover expenses such as free public events and law enforcement. Although some host cities find themselves drowning in bills, Minneapolis believes they raised enough to cover extra costs.
Unfortunately, we don’t have the numbers to determine the exact economic impact of the Super Bowl yet (and possibly never will). But what we do have is a survey from the Super Bowl Committee that estimates the benefit from the Super Bowl to the local economy is more than $300 million. This estimation warrants a substantial and positive impact on Minneapolis. According to USA Today, cities that host the Super Bowl have the potential to earn an impact of $200 million to $500 million on the local, regional and state economies. The estimated $300 million will put the city in that range but on the lower end.
If and when more numbers are announced, check back for my updated economic report.
This article was originally published on Ryan Krutzig’s LinkedIn Profile