Statement: Franchise Impact on the City of St. John's
St. John's, Newfoundland - In September of 2019, Deacon Sports and Entertainment commissioned an independent Economic Impact Study to better understand the immediate local benefits that the Newfoundland Growlers and St. John's Edge had on our community. Subsequently, we included these findings in our rejected proposal to City Council to operate both teams out of Mile One Centre earlier this month.
In response to several requests from various stakeholders, including fans, we have decided to share the findings of that report with the public.
While the Impact Study combines the economic spinoff of both the Growlers and the Edge it is important to note that the Growlers make up a larger percentage of the total figures as the Growlers schedule includes more games at Mile One Centre, increased team spend due to having a larger contingent of players requiring more local housing, increased hotel rooms for visiting teams and the increased logistical cost to operate a hockey team over a basketball team.
Excerpts from the report can be found below.
Based on conservative comparisons and estimations of franchises located in similar size municipalities and using a multiplier of 1.5X-$2.0X the direct annual spend amount, the economic impact of the two local franchises over multiple seasons will far exceed that of any "one-time" event such as the Tim Hortons Brier and would be in the range of $11.4M-$15.2 million dollars annually.
Injection of over $7,600,000 dollars annually directly into the local St. John's economy through various team budgetary expenditures.
Visiting teams spend over $425,0000 on accommodations and food & beverage businesses while in St. John's
A longer-term franchise commitment enables suppliers to make significant decisions on investing resources back into their businesses for staff, infrastructure, and business activities. It is these through supply chain management investments that generate stability contributing to a healthier economy, strengthened corporate tax base, and business outlook.
Sports teams give citizens a collective identity. There is a certain togetherness, a certain camaraderie that total strangers can achieve simply by virtue of living in the same city and rooting for the same team. The Newfoundland Growlers proved this during their championship playoff run that captured the Kelly Cup - residents (not just hockey fans) experienced civic pride due to the success of our hockey ambassadors.
We end by asking the public - was the economic impact of the Growlers and Edge even considered by City Council and what analysis was used to determine that the economic impact of a 54-game hockey and basketball season is less than a 10 game quasi-basketball season?
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The opinions expressed in this release are those of the organization issuing it, and do not necessarily reflect the thoughts or opinions of OurSports Central or its staff.
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