$161 million in spending will generate long-term new local revenue
Comprehensive third-party report includes significant benefits for minority businesses
DETROIT, July 11, 2024 (GLOBE NEWSWIRE) — Visit Detroit and the Detroit Sports Commission announced today that the 2024 NFL Draft generated $213.6 million in economic impact for the City of Detroit and the surrounding region, including $161.3 million from visitors to southeast Michigan. Visitor spending creates long-term economic benefits and new revenue for local households, businesses and tax revenues.
This comprehensive study, prepared by Dr. Patrick Risch, Director of the Sports Business Program at Washington University in St. Louis, analyzed spending levels of not only the NFL, but visiting fans and local residents. The study highlighted the significant benefits to local minority businesses, and defined the local regional economy as the Detroit area, which consists of Wayne, Oakland and Macomb counties.
“The Detroit Tourism Board and the Detroit Sports Commission are pleased to announce that a record 775,000 people attended the 2024 NFL Draft, generating more than $213 million in combined spending in Detroit and Southeast Michigan,” said Claude Molinari, president and CEO of the Detroit Tourism Board and co-chair of the NFL Draft’s Detroit Local Organizing Committee (DLOC). “This spending goes into the pockets of Detroit businesses and helps strengthen our community for years to come. We are also proud that more than 50 million people saw Detroit shine on national television, which is critical to Michigan’s long-term population and economic growth.”
In addition to the strong economic impact and record attendance, the 2024 NFL Draft provided a unique opportunity to showcase Detroit’s diverse communities through inclusive activities and partnerships that represent local culture. From signing numerous agreements with local minority businesses to introducing the first-ever prayer hall at the draft, the three-day event was a true celebration of the region’s entrepreneurs, music, entertainment, dance and cuisine.
“The Detroit Local Organizing Committee (DLOC) for the 2024 NFL Draft has been committed to prioritizing business opportunities for minority-owned businesses in Detroit and the surrounding area since beginning its strategic planning in 2022,” said Alexis Wiley, founder of Moment Strategies and DLOC co-chair. “Our valuable partnerships with the City of Detroit, local minority business associations, organizations such as the Michigan Black Business Alliance, the Detroit Economic Growth Corporation, the Detroit Lions and local ethnic chambers of commerce have greatly benefited local minority businesses. These collaborations have also helped many of these businesses become certified and better positioned to win contracts for future major local events.”
Economic Impact Report Highlights
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Of the total economic impact of $213.6 million, $161.3 million represents new spending generated within the Detroit region as a result of hosting the 2024 NFL Draft.
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Of the total economic impact of $161.3 million, $106.4 million will be retained in the Detroit region in the long term as new revenue for households, businesses and tax revenue.
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The $106.4 million represents the total impact on local revenues, taking into account funds that leak immediately after new money enters the local economy. The overall fiscal/tax impact resulting from visitor spending is $12.3 million.
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30.2% of all participants traveled more than 100 miles to attend the 2024 NFL Draft in Detroit.
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The NFL’s total spending to local minority-owned businesses was $12.1 million. The Michigan Black Business Alliance (MBBA), Detroit Economic Growth Corporation (DEGC), Detroit Tourism and the Detroit Sports Commission helped Black-owned businesses secure 34 contracts directly with the NFL, representing nearly 40% of local contracts.
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Members of the MBBA, DEGC, Detroit Sports Commission and Visit Detroit selected for the contract included 15 Black-owned concession stands at “Taste of Detroit” within the NFL Draft Experience at Hart Plaza and other areas within the NFL Draft footprint area, three staffing companies, three catering companies, two bartenders and one food truck.
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Other contracts awarded by MBBA were awarded to local people working in the fields of photography, transport, decorating, laundry and art.
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MBBA members hired more than 500 staff members to meet work demands, bringing in approximately $1.2 million in staff income for draft week.
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Detroit Sports Commission Living Legacy Initiative Helped distribute $1.5 million in grants to local nonprofits.
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The 2024 NFL Draft was attended by fans from all 50 U.S. states and more than 20 countries.
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Australian fans traveled more than 11,000 miles to attend the 2024 NFL Draft in Detroit.
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Detroit hotel occupancy rates during the draft: Wednesday, April 24th – 84%, Thursday, April 25th – 92%, Friday, April 26th – 85%, Saturday, April 27th – 74%
Other findings from the economic impact study included total spending by businesses that attended or were involved in the NFL Draft. Total economic impact accounts only for spending by non-local fans and businesses (with some exceptions) that inject new money into the local economy as a result of the NFL Draft.
“Today’s report detailing the economic benefits the 2024 NFL Draft will bring to our local community reaffirms the decision of the Detroit Tourism Board, the Detroit Sports Commission, the Detroit Lions and the City of Detroit to bid for and host this prestigious NFL event,” said Dave Beachnow, executive director of the Detroit Sports Commission. “This accomplishment represents the accomplishment of our mission to generate economic impact for the region and promote the area as a premier destination for leisure travel and sporting events.”
About the Detroit Sports Commission
The Detroit Sports Commission’s (DSC) mission is to promote and market metropolitan Detroit as a premier destination for regional, national and international amateur sporting events. DSC is a non-profit charitable organization, an IRS 501(c)(3) and a subsidiary of the Detroit Metropolitan Convention & Visitors Bureau (DMCVB). For more information, visit detroitsports.org.
About Detroit Tourism
Visit Detroit is the official destination marketing organization for the City of Detroit and is committed to promoting Detroit as a world-class destination for leisure and business travelers. Focused on showcasing the city’s vibrant culture, rich history and diverse attractions, Visit Detroit strives to promote tourism, economic growth and community pride. Visit Detroit’s membership includes more than 700 businesses. Founded in 1896 as the world’s first convention and visitor information center, Visit Detroit now has a membership of more than 700 businesses. For more information, visit visitdetroit.com.
Media Contact:
Chris Moyer/Visiting Detroit
248-840-7332 / cmoyer@visitdetroit.com
Kurt Kosmovski/The Kosmovski Group, Detroit Sports Commission and Detroit Convention and Visitors Bureau
248-345-4360 / kurt@thekosmowskigroup.com
Lauren Pulte/Lambert (Courtesy of LLYC, the Detroit Sports Commission and the Detroit Convention and Visitors Bureau)
248-885-2607 / lpulte@lambert.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2c5a416b-dd95-41b8-bf71-116d93538eac
