St. Louis Cardinals Expected to Hit $318.1 Million Home Run for Regional Economy
For more information, contact:
Anthony Paraino, Explore St. Louis
Hart Nelson, St. Louis Regional Chamber
For Immediate Release
ST. LOUIS CARDINALS EXPECTED TO HIT $318.1 MILLION HOMERUN FOR REGIONAL ECONOMY
ST. LOUIS (March 31, 2017) – The St. Louis Cardinals will face off against the Chicago Cubs at the team’s home opening game on April 2, 2017 at Busch Stadium. Not only is this a great day for baseball, but it kicks off a robust tourism season in the St. Louis region.
According to the St. Louis Regional Chamber’s Director of Economic Research, Ruth Sergenian, the Cardinals are projected to attract three million fans who will generate a $318.1 million economic impact in the region. Sergenian estimates the direct economic impact will total $165.2 million, spurring an indirect economic impact of $152.9 million.
Historically, out-of-town visitors constitute over 40 percent of game attendees. Visitor spending on dining, lodging and shopping provides a significant boost to the regional economy.
This analysis uses the economic impact model IMPLAN, which measures how spending tied to an event has multiple impacts and spreads throughout a region, thereby benefiting households and firms within the region. The direct, indirect and total economic impact figures are based on estimates of visitor spending and operations expenditures at Busch Stadium.
The Cardinals rank 7th on Forbes Magazine’s latest list of the most valuable baseball teams with a value of $1.6 billion. A $1 billion, 15-year TV deal with Fox Sports Midwest and a $220 million expansion of Ballpark Village are also expected to raise the Cardinals’ influence in the regional economy.
About the St. Louis Regional Chamber
The St. Louis Regional Chamber is a broad community of leaders united for economic prosperity throughout the entire St. Louis bi-state region. Our aspiration is for St. Louis to be one of the Top 10 U.S. regions in prosperity. Our one purpose is to inspire a greater St. Louis. Together, we will make St. Louis a more attractive place for people to live, work, and invest. We will win on today’s regional strengths in focused economic clusters: financial services, health, multimodal logistics, and biosciences. We will champion a better tomorrow through greater educational attainment, inclusion and talent attraction, entrepreneurship and innovation. For more information, visit www.stlregionalchamber.com.
About Explore St. Louis
Explore St. Louis is the driving force behind St. Louis’ $5 billion convention and tourism industry, the official destination marketing organization of St. Louis City and County and operator of the America’s Center Convention Complex. For more information, visit www.explorestlouis.com.
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