San Francisco 49ers Stadium Will Generate $249 Million Annually for Santa Clara and Region
Building a new NFL stadium in the city of
Santa Clara would create a significant economic engine for the city and the region, generating an economic impact of $249 million annually, according to an economic impact study released today by Conventions, Sports & Leisure International (CSL), a leading advisory and planning firm.
The report shows a new stadium would create 2,230 jobs and $249 million in economic activity in the region, while generating a total of $12.3 million in annual tax revenues for the city, county and state combined, starting in 2012, the year the proposed stadium would open.
There is no question that a new state-of-the-art stadium in
Santa Clara would deliver a huge economic boost to the city and the entire region, said Bill Rhoda, manager of CSL.
Capitalizing on the stadium s central location in
Silicon Valley and the popularity of the National Football League, a new stadium would create thousands of jobs, generate hundreds of millions in economic activity each year, and enhance the quality of life in the community.
Building the proposed $600 to $800 million stadium from 2010 to 2012 would also create a significant impact. The project would bring $164 million in economic impact to the region. This new economic activity in the region would fuel the creation of 1,350 jobs over the 2.5-year building period.
Beginning in 2012, the proposed 68,000-seat stadium is projected to attract more than 1.2 million people to 49ers games and other events each year, such as concerts and festivals. Stadium patrons would be the catalyst for much of the direct economic activity, from buying concessions and paying for parking at the stadium to staying at local hotels and dining at area restaurants. Spending at the stadium and in local businesses throughout the region would result in more income for local workers, and more tax revenues for the city s general fund to go towards city services like schools and parks. Corporate sponsorships, the sale of naming rights for the stadium, advertising and similar business activities would generate additional benefits for the city and region.
In addition to hosting 49ers games, economic activity from the stadium would increase in some years from hosting special events like the Super Bowl and international soccer matches.
The city of
Santa Clara stands to benefit significantly from economic activity related to a new stadium. The report forecasts that the project would generate:
$72 million in annual direct spending;
$98 million in annual economic activity;
$44 million in personal earnings each year; and
More than 900 new jobs.
The 49ers currently are engaged in a six-month feasibility study with the city of
Santa Clara to explore the potential of building a new stadium near the team s practice facility and the
Convention Center. The stadium would be owned by the city and financed through a significant team investment, revenue generated by the stadium project and an investment from the City. Both the 49ers and the City of
Santa Clara have agreed that financing a new stadium should have no negative impact on the city s general fund and create no new taxes for local residents.
Clara has always been a city that looked to the future and made smart decisions about its growth, said Larry Marsalli, former mayor of
Santa Clara. Whether or not you re a football fan, the stadium is exactly the kind of project that fits the
Santa Clara mold, added Don Callejon, the former superintendent of
School District. It will bring economic benefits without raising taxes or taking money out of the general fund.