According to a release just put out by the mayor's press office, the Phillies' winning streak may help bring cash money to the city. The city Commerce Department and the Philadelphia Convention and Visitors Bureau estimate that the playoffs could generate up to $20 million in spending in the region.
Check out the press release:
PHILLIES PLAYOFF GAMES A HOME RUN
FOR PHILADELPHIA ECONOMY
PHILADELPHIA…October 6, 2008…As the Philadelphia Phillies advance to the National League Championship Series, which begins on Thursday, October 9 at Citizens Bank Park, the City’s economy will also benefit. According to the City of Philadelphia’s Department of Commerce, and the Philadelphia Sports Congress, a division of the Philadelphia Convention & Visitors Bureau, the playoffs could generate up to $20M in incremental spending for the area economy.
“We are so excited and proud of the Phillies for advancing this far,” said Philadelphia Mayor Michael Nutter. “We are equally excited about the unexpected economic boost to our local economy and the benefit it will have to businesses of all sizes.”
The estimated figure includes visitor spending and direct city tax revenues only, and does not incorporate additional spending by area residents in response to the Phillies playoff run. An extended post-season run could generate more than $17M in direct spending from visiting fans, media, sponsors and Major League Baseball partners. In addition, the City of Philadelphia could reap up to $3M in direct revenues if the Phillies post-season run continues through the World Series via various taxes (i.e. amusement, sales, parking and hotel room tax).
“From visitors enjoying Philadelphia’s hotels and attractions, to area fans gathering at restaurants to watch the game and show their Philly pride, the impact of hosting the playoffs is quite significant,” said Larry Needle, executive director, Philadelphia Sports Congress. “Add to that the millions of viewers who are watching Philadelphia in a positive light and this is a tremendous opportunity for the city to shine.”
Last week’s two Division Series games generated more than $3M in visitor spending and tax revenues as more than 3,000 out-of-town visitors were in Philadelphia.
The League Championship Series this week will bring in 4,500 visitors (1,500 room nights per game). The World Series would bring an additional 7,000 visitors (2,500 room nights per game).
More than 500 print media credentials are expected to be issued for this week’s games.
Check out the press release:
PHILLIES PLAYOFF GAMES A HOME RUN
FOR PHILADELPHIA ECONOMY
PHILADELPHIA…October 6, 2008…As the Philadelphia Phillies advance to the National League Championship Series, which begins on Thursday, October 9 at Citizens Bank Park, the City’s economy will also benefit. According to the City of Philadelphia’s Department of Commerce, and the Philadelphia Sports Congress, a division of the Philadelphia Convention & Visitors Bureau, the playoffs could generate up to $20M in incremental spending for the area economy.
“We are so excited and proud of the Phillies for advancing this far,” said Philadelphia Mayor Michael Nutter. “We are equally excited about the unexpected economic boost to our local economy and the benefit it will have to businesses of all sizes.”
The estimated figure includes visitor spending and direct city tax revenues only, and does not incorporate additional spending by area residents in response to the Phillies playoff run. An extended post-season run could generate more than $17M in direct spending from visiting fans, media, sponsors and Major League Baseball partners. In addition, the City of Philadelphia could reap up to $3M in direct revenues if the Phillies post-season run continues through the World Series via various taxes (i.e. amusement, sales, parking and hotel room tax).
“From visitors enjoying Philadelphia’s hotels and attractions, to area fans gathering at restaurants to watch the game and show their Philly pride, the impact of hosting the playoffs is quite significant,” said Larry Needle, executive director, Philadelphia Sports Congress. “Add to that the millions of viewers who are watching Philadelphia in a positive light and this is a tremendous opportunity for the city to shine.”
Last week’s two Division Series games generated more than $3M in visitor spending and tax revenues as more than 3,000 out-of-town visitors were in Philadelphia.
The League Championship Series this week will bring in 4,500 visitors (1,500 room nights per game). The World Series would bring an additional 7,000 visitors (2,500 room nights per game).
More than 500 print media credentials are expected to be issued for this week’s games.
Yet the City can't pay for fireworks on New Year's Eve. Doesn't the same "economics & finance/event revenue" corollary hold true? Seems like a pennywise pund foolish moment for the Administration.— JoeInTheKnow- It's very irresponsible for anyone to still maintain that a sports team can "boost" the economy. It just ain't so. Numerous economists from the right or the left have affirmed that over the years. The city is already hock for the construction of these stadia in South Philly. Let's put the kibosh on these delusions about their economic benefit.— Joshua911
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David Gambacorta spent a small eternity writing about cops, drug dealers and serial killers. Now he’s writing about power and politics – which sometimes reminds him of the old crime beat. He joined the Daily News in 2005. And yes, he knows you’re not quite sure how to pronounce his last name. E-mail tips to gambacd@phillynews.com
Follow Dave on Twitter.
Catherine Lucey joined the Daily News in 2002 and has written about murderous drug gangs, political protesters and Harry Potter. After covering the 2007 mayoral election, she moved over to the City Hall bureau where she has been reporting on the Nutter administration.
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Jan Ransom, a native New Yorker, joined the Daily News in 2010 after graduating from Howard University. She has since written about the difficulty of filing police complaints, tax deadbeats and life after violent home invasions. She joined the Daily News City Hall Bureau in 2011 and has plunged headfirst into reporting on administration budget battles and City Council shenanigans.
Follow Jan on Twitter
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