Writer: Ryan Gandolfo
2 min read October 2023 — Super Bowl records were meant to be broken. That was the case with Phoenix’s Super Bowl LVII in February, generating $1.3 billion in total economic activity for the state of Arizona, including a total contribution of $726.1 million to Arizona’s gross domestic product (GDP).
The city recently announced the economic impact of the event through an independent study conducted by Arizona State’s L. William Seidman Research Institute.
“The magnitude of the economic impact of hosting the Super Bowl is what makes it a coveted event for cities around the United States,” said Anthony Evans, senior research fellow for the L. William Seidman Institute at W. P. Carey School of Business, Arizona State University, according to a city press release. The study concluded that 10,459 annual jobs were created and more than 100,000 visitors came to the area for the National Football League’s (NFL) final game of the season.
Despite the game being hosted in Glendale, about half an hour’s drive away from Downtown Phoenix, the city’s urban core saw 300,000 fans pass through the area for various events during the weekends leading up to the Super Bowl.
Super Bowl weekend highlighted a coming-out party for the Greater Phoenix area as the city also hosted its annual Waste Management Phoenix Open that same weekend, which generated over $400 million and was a major fundraiser for charities. In 2023, the hosts raised $14.5 million for Arizona charities — its highest record since 2020.
Arizona’s capital city ranks in the Top 10 of Sports Business Journal’s best sports business cities in 2023. Aside from Los Angeles and Las Vegas, Phoenix is a western region hub for sporting events, with 26 properties dedicated to sports and a relatively low room tax (12.57%). The area is also home to a major league football, baseball, basketball and hockey franchise.
Club owners are doubling down on their Phoenix office footprint as well, with Phoenix Suns team owner Mat Ishbia planning to build a new office headquarters in Downtown Phoenix’s warehouse district. The 123,000-square-foot space, costing over $100 million, will include the practice facilities for the Phoenix Suns and the Women’s National Basketball Association’s Phoenix Mercury.
“You create great culture by investing in people. A basketball franchise is so much more than a normal business, it is a catalyst for change. I am so excited to be making an investment that builds on our vision for the Phoenix Suns and Mercury to continue investing in our players, team members, fans and community,” said Ishbia in a statement.
