NFL Draft's economic impact in Detroit projected to be significant, experts say
(CBS DETROIT) - The 2024 NFL Draft in downtown Detroit concluded on Saturday, and city officials anticipate the economic impact to be significant.
The city ended the event by setting the attendance record with over 700,000 fans at the event, beating the record of 600,000 fans that was set in 2019 in Nashville. Detroit also set the record for the highest attendance on Day one of the draft, with 275,000 fans.
On Monday, the economic consulting firm Anderson Economic Group LLC projected that the net impact is expected to exceed $165 million.
Additionally, the firm projected that there will be a direct economic impact of $100 million to the city, with an estimated total of $37 million in expenditures of attendees.
"The record number of attendees at the NFL draft in Detroit creates additional economic impact, and our original attendance estimate was within 10 percent of actual turnout," said Tyler Theile, the firm's chief operating officer and director, in a statement. "Hosting the NFL draft was an exciting win for Detroit and presented invaluable opportunities for the city to showcase its culture on a national stage, fostering long-term tourism and investment prospects."
Claude Molinari, president and CEO of Visit Detroit, said data on the impact is still being collected, and they are working with sports economist Patrick Rishe to release an official report, which will completed in June.
The city recapped the major event on Monday, speaking on the local contributions and the Detroit Police Department's security plan.
"Last week, we were able to show our visitors and millions of people watching on TV what we already know about our city," Molinari said on Monday.
"Visit Detroit and the local organizing committee want to be precise in the overall economic impact of such a significant event."