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WWE News
WWE News: WrestleMania 23 economy impact report says $30 million impact in Detroit Nov 26, 2007 - 11:16:52 AM
WWE sent PWTorch.com the following press release...
WWE Bolsters Detroit Economy As WrestleMania 23 Generates $29.7 Million Economic Impact
STAMFORD, Conn., November 20, 2007 – World Wrestling Entertainment's WrestleMania 23, which drew over 80,000 ecstatic fans to Detroit's Ford Field in April, generated an estimated $29.7 million in economic impact for the city according to a study by Enigma Research Corporation of Toronto. According to the report, WrestleMania also supported the equivalent of 334 full-year jobs.
The $29.7 million estimate includes direct, indirect and induced impact derived from spending by non-locals visiting specifically for WrestleMania 23 as well as operational spending related to the event. Fans from 50 states, 6 Canadian Provinces and 24 countries converged on Detroit for WrestleMania 23. Spending related to the event in Detroit also generated $4.7 million in tax revenue for federal, state and local government.
"Hosting the WWE's premiere event proved to be a tremendous boost for the City of Detroit and the region," said Tom Lewand, Detroit Lions/Ford Field EVP & COO and the Detroit Metro Convention & Visitors Bureau Chairman of the Board. "With 80,000 worldwide fans in Detroit for WrestleMania 23, the event was not only a catalyst for a positive economic impact, but also a springboard for Detroit's tourism industry."
"WWE continues to prove itself as one of the world's most exciting and powerful brands," said Geof Rochester, WWE Executive Vice President, Marketing. "We're thrilled that our live events are able to have such a positive impact on the communities we visit, in addition to providing an unmatched level of entertainment for our millions of fans. Next year's WrestleMania 24 is already creating invaluable recognition and economic stimulus for the city of Orlando."
WrestleMania 24 will take place on Sunday, March 30, 2008, at the Citrus Bowl in Orlando, Fla. A crowd of more than 60,000 fans from around the world is expected to attend the event.
Enigma Research Corporation is an international consulting firm which specializes in measuring the economic impact of special events. Enigma's economists developed a customized model which converted expenditures into economic impact, employment created, and taxes generated as a result of the event.
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