Visit Detroit and the Detroit Sports Commission Announce Record-Setting 2024 NFL Draft Generated $213.6 Million in Economic Impact
July 11 2024 - 9:12AM
Visit Detroit and the Detroit Sports Commission today announced
that the 2024 NFL Draft generated a $213.6 million economic impact
for the City of Detroit and region, including $161.3 million from
visitors coming to Southeast Michigan. That spending from visitors
has a long-term economic impact resulting in new income for local
households, businesses, and tax revenues.
The comprehensive study, developed by Dr. Patrick Rishe,
director of the Sports Business Program at Washington University in
St. Louis, analyzed spending levels by both visiting fans and
locals, as well as the NFL. The study highlighted significant
benefits to local minority businesses and defined the local
regional economy as the Detroit region of Wayne, Oakland, and
Macomb counties.
“Visit Detroit and the Detroit Sports Commission are thrilled to
announce that the record-setting 775,000 people who attended the
2024 NFL Draft generated more than $213 million in total spending
for Detroit and Southeast Michigan,” said Claude Molinari,
President and CEO of Visit Detroit and Co-Chair of the Detroit
Local Organizing Committee (DLOC) for the NFL Draft. “That spending
went into the pockets of Detroit businesses and will help
strengthen our community for years to come. I am also proud that
more than 50 million people watched Detroit shine on national
television, which will be critical for Michigan’s long-term
population and economic growth.”
In addition to the strong economic impact and record-setting
attendance, the 2024 NFL Draft provided a unique opportunity to
highlight Detroit's diverse community with inclusive activations
and partnerships representative of the local cultures. From
generating numerous contracts for local minority businesses to
introducing the first-ever Prayer Halls at Draft, the three-day
event marked a true celebration of entrepreneurs, music,
entertainment, dance, and cuisine within the region.
“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 region
since we began our strategic planning in 2022,” said Alexis Wiley,
Founder of Moment Strategies and Co-Chair of the DLOC. “Our
valuable partnerships with the City of Detroit, local minority
business organizations, and entities such as the Michigan Black
Business Alliance, the Detroit Economic Growth Corporation, the
Detroit Lions, and local ethnic chambers of commerce have
significantly benefited local minority businesses. These
collaborations have also helped many of these businesses become
certified and prepared to secure contracts for future major local
events.”
Economic Impact Report Highlights
- $161.3 million of the $213.6 overall amount in gross economic
impact represents new spending within the Detroit region created by
the presence of the 2024 NFL Draft.
- $106.4 million of the $161.3 million in gross economic impact
is being retained long-term within the Detroit region as new income
for households, business proprietors, and tax revenues.
- The $106.4 million represents gross impact on local income,
accounting for any money leakages shortly after new money enters
the local economy. The overall fiscal/tax impact stemming from
visitor spending is $12.3 million.
- 30.2% of all attendees traveled more than 100 miles to attend
the 2024 NFL Draft in Detroit.
- The NFL’s total spend on local minority-owned businesses was
$12.1 million. The Michigan Black Business Alliance (MBBA), Detroit
Economic Growth Corporation (DEGC), Visit Detroit and Detroit
Sports Commission helped Black-owned businesses secured 34
contracts to work directly with the NFL, totaling nearly 40% of
local contracts.
- MBBA, DEGC, Detroit Sports Commission, and Visit Detroit
members who were selected for contracts included the 15 Black-owned
concession stands, three staffing companies, three caterers, two
bartenders, and one food truck at the “Taste of Detroit” within the
NFL Draft Experience at Hart Plaza and other areas within the NFL
Draft footprint area.
- Other MBBA-awarded contracts were awarded to locals working in
photography, transportation, decor, laundry and the arts.
- MBBA members hired more than 500 staff to meet work demand,
resulting in approximately $1.2 million in staff income during
Draft week.
- The Detroit Sports Commission’s Living Legacy Initiative helped
distribute $1.5 million dollars in grants to local non-profit
organizations.
- Fans from all 50 U.S. states and more than 20 countries
attended the 2024 NFL Draft.
- A fan from Australia traveled more than 11,000 miles to attend
the 2024 NFL Draft in Detroit.
- Hotel occupancy in the city of
Detroit during the Draft: Wednesday, April 24-84%; Thursday, April
25-92%; Friday, April 26-85%; Saturday, April 27-74%
Other findings in the economic impact study included total
spending by companies who attended or were involved with the NFL
Draft. Gross economic impact only accounts for spending by
non-local fans and companies (with some exceptions) who inject new
money into the local regional economy as a result of the NFL
Draft.
“Today's report detailing the economic benefits of the 2024 NFL
Draft to our local community reaffirms the decision by the Visit
Detroit, Detroit Sports Commission, Detroit Lions and the City of
Detroit to bid for and host this prestigious NFL event,” said Dave
Beachnau, Executive Director of the Detroit Sports Commission.
“This achievement represents the fulfillment of our mission to
generate economic impact for the region and to promote the area as
a premier destination for leisure travel and sporting events.”
About the Detroit Sports CommissionThe mission
of the Detroit Sports Commission (DSC) is to market and sell metro
Detroit as a premier destination for regional, national, and
international amateur sporting events. The DSC is a not-for-profit
charitable organization, IRS 501(c)(3), and a subsidiary of the
Detroit Metro Convention & Visitors Bureau (DMCVB). For more
information, visit detroitsports.org.
About Visit DetroitVisit Detroit is the
official destination marketing organization for the city of
Detroit, dedicated to promoting Detroit as a world-class
destination for leisure and business travelers. With a focus on
showcasing the city’s vibrant culture, rich history, and diverse
attractions, Visit Detroit aims to drive tourism, economic growth,
and community pride. More than 700 businesses are represented in
the Visit Detroit membership. Visit Detroit was founded in 1896 as
the world’s first convention and visitors bureau, and more than 700
businesses are represented in the membership. For more information
go to visitdetroit.com.
MEDIA CONTACTS:Chris Moyer/Visit
Detroit248-840-7332 / cmoyer@visitdetroit.com
Kurt Kosmowski/The Kosmowski Group, for the Detroit Sports
Commission and Visit Detroit248-345-4360 /
kurt@thekosmowskigroup.com
Lauren Pulte/Lambert by LLYC, for the Detroit Sports Commission
and Visit Detroit248-885-2607 / lpulte@lambert.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/2c5a416b-dd95-41b8-bf71-116d93538eac