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Yahoo
20-05-2025
- Business
- Yahoo
Republican National Convention created a $321 million economic impact, new study says
The 2024 Republican National Convention generated more than $200 million in direct spending − including more than $50 million by Milwaukee visitors, according to a new report. Along with additional spending by businesses and their employees, that created an estimated $321 million economic impact on the state and local economy. That's according to the study released May 20 by the MKE 2024 Host Committee and Visit Milwaukee. That total economic impact is well above a $200 million rough estimate convention backers had used before the event. But it comes after some downtown restaurateurs and other business operators reported disappointing results from the convention. Milwaukee hosted the RNC in July, attracting 50,000 visitors. Fiserv Forum, the UW-Milwaukee Panther Arena and the newly expanded Baird Center were the main venues. Of the $216.3 million in direct spending, $162.2 million is considered operational spending. Most of that was spent by the Host Committee, Republican National Committee and the City of Milwaukee − with the city's share mainly funded through a $74.7 million federal security grant, the report said. Operational spending, which includes spending by other organizations, covered such items as event operations, insurance, housing and professional services. Also, convention delegates, their family members, news media employees, law enforcement officers, national committee staffers and other visitors spent $54.1 million at sites beyond the official RNC venues, the study said. The largest amount, $36.6 million, was for lodging and accommodations, it said. Other spending categories were food and beverage, $7.7 million; retail, $4.5 million; recreation and entertainment, $3.1 million, and local transportation, $2.2 million. The biggest category for all direct spending − both on operations and by visitors − was business services, which totaled $49.8 million. Along with that $216.3 million in direct spending, the study counts $65.1 million of indirect business sales and $40.1 million of induced business sales − for a total economic impact of $321.5 million. Indirect spending covers RNC-related businesses that buy goods and services from other providers − for example, a hotel restaurant stocking up on food and drinks. Induced spending accounts for money spent by employees of RNC-related businesses. That would include that hotel restaurant's wait staff spending money earned during the convention. The RNC also generated $26.8 million in federal tax revenue and $16.8 million in state and local taxes, the study said. Convention boosters said the RNC raised Milwaukee's profile on a global stage. "Our entire goal with this convention was to help put Milwaukee on the map for future events, and it already has,' said Peggy Williams-Smith, president and CEO of Visit Milwaukee, in a statement. Visit is a publicly funded nonprofit group that promotes Milwaukee as a travel destination. Meanwhile, the Host Committee plans "to give back millions of dollars in leftover funds directly to the community," said Alison Prange, committee president and chief operating officer. The Milwaukee Journal Sentinel's reporting during the convention and its immediate aftermath found hotels reporting strong business − while some downtown restaurants, taverns and stores seeing much less of an impact. The occupancy rate for area hotels during the convention week was 83.4%, according to CoStar, a real estate data provider. That compared to 69.2% from the previous week. The average daily room rate during the RNC was just over $350 compared to around $179 during the previous week, according to CoStar. However, the Journal Sentinel in July interviewed several local business owners who were disappointed. They cited three big factors: a spike in downtown employees working remotely, which decimated the normal lunch trade; a reluctance by area residents to venture downtown for dinner because of real and perceived traffic issues, and the busy schedule of delegates — many bused from hotels to Fiserv Forum and other venues — which left little time to explore downtown restaurants, taverns and shops. There were unmet expectations, Nicholas DeSiato, Mayor Cavalier Johnson's chief of staff, told Common Council members in September. Those was partly driven by the contradiction of Milwaukee being the center of a widely publicized week-long event − but with most of the activity confined to a small portion of downtown centered on Fiserv Forum and the Baird Center, DeSiato said at a council Steering and Rules Committee meeting. The study was conducted for the Host Committee and Visit Milwaukee by Philadelphia-based Tourism Economics, a division of U.K.-based Oxford Economics. (This story was updated to add new information.) Tom Daykin can be emailed at tdaykin@ and followed on Instagram, Bluesky, X and article originally appeared on Milwaukee Journal Sentinel: RNC created a $321 million Wisconsin economic impact, new study says Sign in to access your portfolio
Forbes
28-04-2025
- Sport
- Forbes
2025 NFL Draft: A Success In Attendance, Economics, And Safety
This past weekend, thousands of fans gathered for the 90th annual NFL Draft, an event that has become immensely popular among football enthusiasts in the United States. Over the years, the NFL Draft has evolved into a celebration of city pride and passionate fandom. Highly identified NFL fans, who share a strong psychological connection to their favorite teams, gather from across the nation to partake in the draft festivities. Aside from seven rounds of player selection, the three-day event also features interactive games, photo opportunities with NFL legends, and live entertainment. Recent data indicates a growing interest among fans in the NFL Draft. A Seton Hall Poll conducted prior to the 2024 NFL Draft, which surveyed 1,528 adult participants from the U.S., revealed that 40 percent of casual sports fans and 55 percent of individuals identifying as NFL fans expressed interest in watching at least part of the draft. This momentum seems to have been established before the COVID-19 pandemic. In 2019, the event took place in Nashville, Tennessee, attracting a then record 47 million television viewers and over 600,000 attendees. Further evidence of its growing popularity, the 2024 NFL Draft in Detroit set a new all-time attendance record, drawing over 775,000 attendees over the course of three days, according to Visit Detroit and the Detroit Sports Commission. This year's NFL Draft, held in Green Bay, Wisconsin, continued to attract significant interest among sports fans, drawing a crowd of 600,000 attendees for the three days, which ties Nashville for the second-largest attendance in the event's history. Earlier this month, more than 250,000 out-of-town visitors were expected to arrive in Green Bay last weekend, which was predicted to inject millions of dollars into the local economy. On April 20, Visit Milwaukee President and CEO Peggy Williams-Smith was a guest on ISN 12's 'UpFront,' produced in partnership with WisPolitics/State Affairs Pro-Wisconsin, pointed out that Green Bay's location is within a six-hour drive of one-third of the U.S. population. Green Bay Packers President and CEO Mark Murphy also appeared on the program and highlighted the significance of holding the draft in the NFL's smallest market, particularly regarding its economic impact and legacy. Green Bay did not disappoint, offering a unique setting for the draft due to its small community and the fact that the Packers are one of the league's original franchises. The Packers are the only publicly owned team in the NFL. Plus, Lambeau Field is a historic and iconic sports venue. In a statement on the Monday following the draft, Green Bay Mayor Eric Genrich declared, 'Green Bay might be the NFL's smallest city, but we've got the biggest heart, and we have room in it for 600,000 fans!' Aside from the impressive attendance, the Associated Press reported that the 2025 NFL Draft averaged 13.6 million viewers across television and digital platforms, according to the league and Nielsen ratings. This figure represents an 11 percent increase over the previous year and is second only to the 2020 NFL Draft, which occurred during the COVID-19 pandemic. The anticipated economic impact of the 2025 NFL Draft was projected to be around $94 million in state of Wisconsin and $20 million in the local region. Prior to the event, there was an increase in hotel prices that reflected the anticipated influx of out-of-town visitors. Just three days before the first-round picks were announced, a single room with a queen-size bed at the Motel 6 in Green Bay, WI, near Lambeau Field, was priced at $377 for Thursday night. In contrast, several four-star hotel options in the general area were either fully booked or costed over $1,000 per night. Although the final figures have not yet been released, the greater Green Bay area and its surrounding communities are anticipated to experience a substantial economic impact due to increased spending on hotels, transportation, restaurants, and local businesses by out-of-town visitors. Discover Green Bay has garnered significant interest, as evidenced by their social media metrics. Brad Toll, president of the tourist information center, noted that their brand generated approximately 4.25 billion impressions, a figure that would have cost them $40 million in advertising expenses. Discover Green Bay is expected to release data on the economic impact of the 2025 NFL Draft in June. In addition, risk management should be a priority for community leaders when hosting large-scale events such as the NFL Draft. Earlier in April, lawmakers in Green Bay requested $1.25 million from the state of Wisconsin to help cover public safety costs. On Monday, the city of Green Bay shared there were over 100 officers on-site, 15 ambulance transports, 71 emergency medical service incidents, 529 public assistance calls, and first aid was provided to 172 visitors. Despite the large crowds and increased traffic, there was only one arrest, eight ejections, and minimal car accidents, according to the Green Bay Police Department. Therefore, the 2025 NFL Draft was successful on many fronts.
