Local & State
|Basketball showcases a revenue slam dunk for Charlotte|
|NBA, CIAA, ACC bring $167M in economic impact|
|Published Tuesday, July 16, 2019|
|PHOTO | CURTIS WILSON|
|The 2019 CIAA tournament resulted in $43.7 million in economic impact in Charlotte, part of $167 million generated by major basketball events in February and March.|
Basketball is very good to Charlotte’s bottom line.
The NBA All-Star weekend, CIAA tournament and ACC tournaments between Feb. 15-March 16 resulted in direct spending of $93.5 million and $167 million in economic impact.
“The hospitality and tourism industry is one of the major drivers of economic benefits to the region, and these figures underscore the value of the visitor economy” Charlotte Regional Visitors Authority CEO Tom Murray said in a statement. “Charlotte was awarded an incredible opportunity to host these strategic events nearly back-to-back-to-back, and we rose to the occasion and delivered exceptional experiences not only for our customers, but for our community as well.”
Over 150 events took place in relation to All-Star weekend Feb. 15-17, capped by the game itself at Spectrum Center. It generated $87.7 million in economic impact, including $48.7 million from direct spending. State and local sales tax revenue amounted to $4.67 million.
The CIAA tournament, which took place Feb. 25-March 2, is the only NCAA Division II conference championship final played in an NBA arena. Twenty-four games took place between Bojangles’ Coliseum and Spectrum Center, producing $43.7 million in economic impact, with $25.6 million in direct visitor spending. State and local sales tax totaled $2.96 million.
The ACC tournament, which featured 14 games at Spectrum Center March 12-16, generated $35.6 million in economic impact. Direct spending brought in $19.2 million. State and local tax produced $1.93 million.
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