LEVI’S® STADIUM HAS GENERATED MORE THAN $2 BILLION FOR THE LOCAL ECONOMY SINCE OPENING ROUGHLY 10 YEARS AGO
In honor of the 10th season at Levi’s® Stadium, today the San Francisco 49ers are releasing an economic impact report alongside elected officials and business leaders to announce that the stadium has generated more than $2 billion for the local community through concerts, major sporting events, Super Bowl 50, and other NFL games.
Today’s report showed that since opening, Levi’s® Stadium has generated $546 million in personal earnings for local employees, approximately $470 million in revenues for local municipalities, and hosted more than 8.7 million attendees. In addition, the team is announcing that just 10 years after its construction, the Stadium Authority is decades ahead of schedule in repaying the cost of construction, saving approximately $100 million in interest costs.
“We have always seen Levi’s® Stadium as a powerful economic engine for this community and the region, and we’re proud this report shows that over nearly a decade we have lived up to that potential and promise,” said Al Guido, President of the San Francisco 49ers. “Levi’s® Stadium was built to be a world class sports and entertainment venue and, since opening, we have hosted many of the world’s biggest artists, and will soon welcome the FIFA World Cup and our second Super Bowl. We’ve worked hard to deliver for the community, and it’s gratifying to see that the dedication we’ve put into hosting 150+ events is translating to billions of dollars for our neighbors.”
FY2022 (from April 2022 through March 2023) marked one of the most successful sports and entertainment years in Levi’s® Stadium history generating $251 million in economic impact. The event lineup included 12 NFL games and 7 concerts featuring world renowned artists including Coldplay, Elton John, and The Weeknd. Events at Levi’s® Stadium in 2022 attracted over 1 million attendees to the area and generated over $64 million in earnings for local employees. Local municipalities including the City of Santa Clara also benefited greatly from events at Levi’s® Stadium in 2022, earning over $53 million from taxes and fees.
“Levi’s® Stadium is an integral part of the Santa Clara community – as an employer, a tax and revenue driver for the City, and as a dynamic cultural attraction,” said Karen Hardy, Santa Clara City Councilmember. “We have worked hard to ensure that Santa Clarans are benefiting from the Stadium, and this report is an encouraging sign that for the past decade we’ve been able to accomplish that.”
This year’s concert season has continued to break records. Ed Sheeran’s Mathematics Tour was the most highly attended event ever held at Levi’s® Stadium. Taylor Swift’s two-night The Eras Tour was the most impactful concert in the stadium’s history, generating an estimated $33.5 million in economic impact for local businesses, and $8.9 million in personal earnings for residents and working families. Along with Beyoncé’s Renaissance Tour, and Karol G’s Mañana Será Bonito Tour, Levi’s® Stadium has continued to attract the world’s biggest artists and welcomed hundreds of thousands of fans to Santa Clara.
“Having a world-class venue like Levi’s® Stadium right next door is a tremendous boon for the hospitality sector, and our establishment is no exception,” said Mary Lynn Brubaker, Director of Sales, Hyatt House Santa Clara. “The stadium attracts a huge number of visitors and fans, providing a stable and consistent boost to our business that allows us to always be hiring for new staff. As we anticipate events like the Super Bowl and World Cup, we’re immensely optimistic about the positive impact the stadium will continue to have on working families and businesses throughout Santa Clara.”
To understand the spending patterns and employment impacts tied to events at Levi’s® Stadium events, the report combined primary research such as surveys and direct data gathering during events, with secondary research such as previous public research and government data on how businesses and other entities collect and spend revenues. The quantifiable impacts cited in this report are divided into direct, indirect, and induced impacts, to capture the primary spending of visitors and the follow-on effects that each dollar spent has on the local economy.
“The economic impact report shows that Levi’s® Stadium has been extremely successful in driving local economic impact in the surrounding community, far eclipsing the investment needed to build the stadium and operate it,” said Dan Rascher, Ph.D., President of SportsEconomics, LLC. “Our study shows that events and operations of the stadium equate to over 1,000 local full time equivalent jobs each year, over 1 million spectators per year, and millions of dollars in revenues to various public entities, all of which wouldn’t happen without the presence of the stadium. Unsurprisingly the most notable and famous events drive the most activity, like the Super Bowl, or home playoff games, and we expect that trend will continue over the life of the stadium.”
Levi’s® Stadium was financed by a public-private partnership with the original goal of repaying costs over the entire lifetime of the stadium. In additional analysis separate from today’s report, the team announced that because of the stadium’s remarkable success, the Santa Clara Stadium Authority (SCSA) is on track to repay stadium related debt obligations decades earlier than projected, thereby saving the SCSA approximately $100 million in interest costs. As a result of high revenue streams and the team’s overwhelmingly successful Stadium Builders License sales operation – which sold more than $300 million before the stadium even opened – the majority of construction related debt has been paid off more than 15 years ahead of schedule.
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