How much Miami's local governments are paying for the World Cup
Why it matters: The county isn't the only local government shelling out millions to subsidize the tournament.
The big picture: Miami's World Cup host committee estimates the tournament will generate at least $920 million in economic impact. There's a caveat, though: The assumptions in the committee's analysis don't take into account the local costs of hosting the matches.
Follow the money: Besides the county, the cities of Miami and Miami Beach are spending public funds to host the World Cup.
That's according to Janelle Prieto, the chief marketing and community officer of Miami's host committee.
💸 The city of Miami gave $5 million to the World Cup on July 24, Prieto tells Axios.
💰 Miami Beach approved $1.25 million in payments and up to $500,000 of in-kind support, including police, fire, sanitation and other services.
The county has committed $21 million in cash and up to $25 million of in-kind support, including free police and paramedic overtime, the Miami Herald reported.
Zoom in: The host committee says South Florida will benefit from increased hotel occupancy during the low season; new jobs; investments in soccer facilities and youth programs; and free fan festivals with live match broadcasts, concerts and family activities.
In Miami Beach, the host committee plans to set up a "media row" in Lummus Park for live TV broadcasts, according to a city memo.
The Lummus Park beachfront will host a free kickoff concert ahead of the first matches in Miami, with designated seating for residents, per the memo.
The host committee has plans to fundraise for and build a "high quality" soccer pitch for youth in the city, the memo says.
Flamingo Park, Fairway Park and Normandy Park are being considered for the new field.
What they're saying: When Miami Beach commissioners voted unanimously to approve the subsidies in July, several commissioners called it a once-in-a-lifetime opportunity.
Commissioner Joseph Magazine said the funding is coming from resort taxes, "which are designed to essentially promote and enhance tourism."
He said the city would recoup the $1.25 million "multiple times over" through international media exposure, marketing and official watch parties.
"Those things are incalculable, immeasurable," Magazine said.
"The money that we will essentially be sharing will have a significant ROI — return on investment — so this isn't just some sort of giveaway or we're giving money to FIFA. It's because of the substantial benefits that we're getting back."
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