The Record-Breaking NFL Draft: A Boon to Detroit’s Economy
The 2024 NFL Draft in Detroit was a record-breaker in more ways than one. Not only did it attract a staggering 775,000 attendees from all 50 states and over 20 countries, but it also generated a whopping $213.6 million in economic impact for the city. This figure is a testament to the draft’s success and the economic benefits that come with hosting such a high-profile event.
A packed Downtown Detroit during the NFL Draft
According to a report by Dr. Patrick Rishe, director of the Sports Business Program at Washington University in St. Louis, the draft’s economic impact was felt across the city, with new spending, income, and tax revenues generated for households, businesses, and the local government. The report also found that $106.4 million of the total economic impact was retained long-term, contributing to the city’s growth and development.
The draft’s success was not limited to its economic impact alone. It also provided an opportunity for minority-owned businesses to shine, with the NFL’s total spend reaching $12.1 million. This is a significant achievement, as it demonstrates the league’s commitment to diversity and inclusion.
Fans from around the world attended the NFL Draft
For local business owners, the draft was a goldmine. Tom Teknos, owner of The Hudson Cafe on Woodward, reported a significant increase in customers during the draft, with his restaurant serving over 1,200 people per day. This is a far cry from the usual 400-500 customers he gets on a typical Thursday and Friday.
As Stacey Payton, a Detroit resident and nephew of NFL great Walter Payton, put it, “Detroit is by far the greatest city I’ve ever been to.” Payton, who attended the draft and patronized several food trucks, was thrilled to be a part of the economic boom.
The NFL Draft’s success is a testament to Detroit’s ability to host large-scale events and attract visitors from around the world. It’s a feather in the city’s cap, and a reminder that Detroit is a force to be reckoned with.
A sign that says ‘No other city can compete’
In the words of Visit Detroit President and CEO Claude Molinari, “Visit Detroit and the Detroit Sports Commission are thrilled to announce that the record-setting 775,000 people who attended the 2024 NFL Draft generated more than $213 million in total spending for Detroit and Southeast Michigan.” This figure is a testament to the draft’s success and the city’s ability to attract visitors and generate revenue.
The NFL Draft may be over, but its impact on Detroit’s economy will be felt for years to come.
