Home football games bring $69 million impact, 300 jobs to region
The annual economic impact figure comes from a Virginia Tech study that shows restaurants, hotels, and shops benefitting most from football-generated dollars spent in the region.
Football's economic impact tripled in the 15 years since the last economic impact study was done, according to the analysis. The five biggest categories where visitors dropped their dimes were hotels, restaurants, shops, grocery stores, and gas stations. Visitors' direct spending in those areas amounted to $5.9 million (hotels), $5 million (dining), $2.9 million (gasoline), $2.6 million (retail), and $2.5 million (groceries).
Virginia Tech's total football revenue amounts to $41 million. Almost three quarters of that portion, some $30 million, comes into Virginia Tech Athletics from outside the region. Most of that money – $25 million – is spent in the region.
Taxes of $1 million on all the transactions are an added benefit as well, covering sales, meals, and lodging.
Among the key findings:
- Almost three quarters of restaurants, hotels, and retail outlets say they experience an average 15 to 30 percent revenue bump during home-game weekends.
- Churches, local governments, and small nonprofit agencies benefit each game season, each organization raking in from $500 to $12,000 in parking and other fundraising activities.
- Almost all Hokie football fans value most highly "the overall game-day atmosphere," with the breakdown of favorite moments including cheering for the Hokies, enjoying the energy of the crowd, reveling in Hokie traditions, and appreciating the marching bands.
Characteristics of visiting football fans include:
- A high concentration of in-state fans are from the Richmond area as well as Northern Virginia, Hampton Roads, and Southwest Virginia.
- Out-of-state fans are clustered largely in North Carolina, with many coming from the Charlotte, Raleigh-Durham, and Greensboro areas.
- Almost half said they would not come to Blacksburg or were unsure about coming if there were no football.
- Visiting fans who miss a home game cite as their biggest excuse either family obligations or the fact that no one was available to accompany them to Lane Stadium.
This is some pretty interesting data. Kind of make you wonder if, backed with data like this, Whit isn't planning on trying to abandon the noon to 1:00 kickoff window altogether (when allowed) to help maximize revenue for the area. Seems like or policies of scheduling early games to help in state fans get to and from Blacksburg in a single day are completely counter to what's best for the region.
What are your thoughts on this? Personally, I found it a bit interesting that this was the first time this study was done in 15 years. Makes you wonder if the previous administration truly cared about the economic impact of the program to the region when making decisions that would drive that impact in the past.
Comments
Excellent ACCylum Number!
Moar ACCylum references!
I'm finna jump
Not sure where you get this assumption from as there's no comparison between revenue at various game times. How much does a Thursday night game help versus a noon game? More locals? I don't know, but your theory seems to be purely speculation and opinion coming from a distaste for noon games. Yes, we know that the previous administration liked the earlier slots (between 12 and 1:30) to allow for day trips to help fill seats, but certainly plenty of people stay for 2 nights in the area regardless of game time. Especially since nearly all hotels in a 10 mile radius of Blacksburg require a 2-night minimum on game weekends.
Let's say a noon game brings 5000 people to Blacksburg who wouldn't otherwise come. The each spend $100 at local businesses.
Let's say a Saturday night game brings 1000 people who wouldn't otherwise come, and stay 2 nights at a hotel. Hotel is $200 a night, and these visitors also spend $100 each day they're in town.
Under these assumptions, a day trip brings in $100/person and a two-night stay brings in $600/person. Obviously these numbers are very round, but I think it's a fair assumption that evening games stimulate the local economy more than nooners. That being said, I think the quality of opponent/game matters more far more than game time.
My point is that there's no data to suggest that more people who attend games at certain times offer more revenue to the area. I stay in Blacksburg for 2 nights whether it's a noon game or a night game as long as it's on a Saturday. I think there's nothing at all to suggest any assumptions about either side being more advantageous than the other. I could go to a noon game, buy breakfast/lunch as well as dinner downtown or I could come in for an evening game, never once pay a cent downtown, stay in Roanoke where I can get a 1 night hotel, and leave the next morning, spending absolutely nothing in Blacksburg. Yes, staying in Roanoke still helps the NRV, but my point is that there's nothing in the data that would lead anyone to make an assumption that the game time factors into the amount of revenue. The point was that they come for football, not that they come for night games.
Ahh sorry - I misread. I thought there was a tidbit in there suggesting that fans are less likely to stay overnight if noon game.
I think Hokie_X3_Hi's point is that we don't have any information with which to make conclusions. We would need a study to be conducted comparing game times in order to truly compare them.
I like this idea. I posted a while back that I thought the later the game time, the more money would be spent. Agree with everything stated previously so I don't want to re-say the same thoughts. Good thoughts!
This just makes me feel bad for the Charlottesville economy.
Don't feel too bad. They have a bow-tie exhibition every year that generates most of their revenue.
The black market Zima trade is also going as strong as ever, I understand.
Right now is prime Chardonnay tasting time too...
...I digress.
Never feel bad for the Charlottesville economy. It's doing just fine with all the snobs in town. They're not going anywhere.
Especially not Scott Stadium.
No way hotels are reporting just a 15-30 percent revenue bump for football weekends when they are doubling and tripling their rates and requiring two day mandatory stays.
They report 15-30% so we dont get all up in arms about how they make more on a football weekend than the entire June and July months (complete speculation)
Id also guess that the hotels love 1pm kickoffs. If you wanted to tailgate you would have to stay in the area. A 3:30 time would allow you DC people to drive down and back in one day and still have time for tailgating
I was about to say the same thing. Hotels love noon kicks. And yeah, there is WAY more than a 30% bump in home game weekends versus a normal weekend, not including orientation, move-in/out, etc.
69?
