December 5, 2010
Pasadena, Calif. – The University of Alabama Crimson Tide were not the only big winners in Pasadena last January. An international consulting firm has concluded that the 2010 Citi BCS National Championship generated $82.4 million for the region, creating hundreds of local jobs.
“This is fantastic news for Pasadena and our region,” stated Pasadena mayor Bill Bogaard. “The Tournament of Roses, staff and volunteers who make this happen deserve a great deal of credit for contributing so much to our local economy.”
The study, conducted by Enigma Research Corporation, estimated event-related spending from a variety of sources. The project was one of the most extensive ever conducted, involving hundreds of game-day interviews with spectators, along with an in-depth analysis of spending by the Tournament of Roses and other stakeholders.
“We have long known that hosting this event brought millions of dollars from visiting tourists, media organizations, sponsors and teams,” said Scott McKibben, Executive Director of the Tournament of Roses. “We are very pleased to have an independent analysis which confirms and quantifies the benefits of hosting events like the BCS Championship.”
Other economic benefits were outlined in the study, including an estimate that the event generated enough employment spending to support the equivalent of approximately 900 full-year jobs in the region. Additionally, thousands of spectators stayed extra nights to explore local attractions such as beaches, Hollywood, and theme parks.
A “legacy effect” is also predicted, as nearly 90% of visiting Texas and Alabama fans were so impressed by their visit that they plan to return to Pasadena for a vacation. Researchers noted the legacy effect was not factored in to the overall impact figures.
“Our firm has conducted hundreds of event-related economic impact studies and many aspects of the BCS Championship results were extremely impressive,” claimed Michael Harker, a senior partner with Enigma Research. “We have seen week-long events that do not produce anywhere near this amount of spending. And the legacy effect will be substantial and ensure further economic benefits in Pasadena for years to come.”
The news came as no surprise to local hotels, restaurants and retailers who have long known the economic benefits of hosting major events in Pasadena. One local hotel manager claimed he hired dozens of extra staff in January, due to his property being completely booked months in advance. “I can’t wait until we host again in 2014!” he added.
For more information please contact Michael Harker, Senior Partner with Enigma Research Corporation at 416-921-6268 or firstname.lastname@example.org .