Photo credit: Paul Sancya, AP Photo
WXYZ Detroit
July 11, 2024
We’re getting a closer look at the economic impact from the record-setting NFL Draft in Detroit earlier this year.
On Thursday, Visit Detroit and the Detroit Sports Commission released the third-party report that found the draft generated $213.6 million in economic impact for the City of Detroit.
The study, which was developed by Dr. Patrick Rishe, the director of the Sports Business Program at Washington University in St. Louis, found that the spending had a long-term economic impact on the city that resulted in new income for households, businesses and tax revenues.
According to the study, $161.3 million of the $213.6 million represents new spending within the Detroit region from the draft. The Detroit Region is defined as Wayne, Oakland, and Macomb counties.
It also found that $106.4 million of the $161.3 million in economic impact is being retained long-term, and had a gross impact on local income.
Around 775,000 people attended all three days of the draft, and the report says 30.2% of attendees traveled more than 100 miles to attend the draft. Fans were from all 50 U.S. states and more than 20 countries.
In fact, one fan from Australia traveled more than 11,000 miles to come to Detroit for the draft.
As for hotel occupancy, the report said it peaked at 92% on Thursday. It was 84% on Wednesday, 92% on Thursday, 85% on Friday, and 74% on Saturday.
The city and the league also worked in include minority-owned businesses in the draft, and the report said the NFL’s total spend was $12.1 million. According to Visit Detroit, several organizations secured 34 contracts from Black-owned businesses.
“Visit Detroit and the Detroit Sports Commission are thrilled to announce that the record-setting 775,000 people who attended the 2024 NFL Draft generated more than $213 million in total spending for Detroit and Southeast Michigan,” Visit Detroit President and Chief Executive Officer Claude Molinari said in a statement. “That spending went into the pockets of Detroit businesses and will help strengthen our community for years to come. I am also proud that more than 50 million people watched Detroit shine on national television, which will be critical for Michigan’s long-term population and economic growth.”
Tom Teknos, owner of The Hudson Cafe on Woodward told 7 News Detroit on the average Thursday and Friday, his restaurant serves about 400 to 500 guests.
During the draft, he said he saw 1,200 to 1,500 per day.
“I think people really got to experience what Detroit is about,” he said.
“Detroit is by far the greatest city I’ve ever been to,” Stacey Payton, of Detroit, said.
Payton, the nephew of NFL great Walter Payton and former Detroit Lion Eddie Payton, said he attended the draft and patronized a number food trucks during that week.
“And I went to a couple of pre-draft events. So, I contributed to some of that money,” he chuckled.
“I contributed to some of the economic boom,” Payton added.