(WXYZ) — East Lansing-based Anderson Economic Group says their revised forecast projects the net impact of the 2024 NFL Draft has on Downtown Detroit is expected to exceed $165 million.
VIDEO: Downtown Detroit businesses see economic boost during NFL Draft:
“When we approach economic impact analysis, we carefully consider each dollar that is going to be invested or spent due to the event. We also carefully consider the power of that dollar in the region and industry of study as it is re-spent,” said Tyler Theile, chief operating officer and director of economic analysis at AEG, in a news release.
VIDEO: What out-of-towners are saying about Detroit after the NFL Draft:
“The record number of attendees at the NFL draft in Detroit creates additional economic impact, and our original attendance estimate was within 10 percent of actual turnout,” said Theile. “Hosting the NFL draft was an exciting win for Detroit and presented invaluable opportunities for the city to showcase its culture on a national stage, fostering long-term tourism and investment prospects.”
AEG says their estimate includes both direct investment and spending that generates economic impact, as well as economic activity. It includes both expenditures inside and outside of the event in Detroit, including hotel stays, spending at restaurants and bars, and merchandise purchases.
