DMPED Releases Study Showing Economic Impact of the District’s Sports Teams and Facilities Update 06/14/24

DMPED Releases Study Showing Economic Impact of the District’s Sports Teams and Facilities

The Office of the Deputy Mayor for Planning and Economic Development (DMPED) released a report outlining the actual and potential fiscal, economic, and community impacts of professional sports in the District. The study also analyzed the economic impact of sports and entertainment venues in the District to date, as well as the impact of potential relocations of existing major sports teams into Washington, DC.

“DC is the Sports Capital. We know how important sports are to our city’s economy and culture,” said Mayor Muriel Bowser. “They create jobs, generate tax revenue, and spur economic development. But sports also create a lot of pride in our city, they bring people together, and we look forward to continuing to support our teams in ways that benefit our city and residents and help knock DC’s Comeback out of the park.”

The District commissioned the report to support DMPED’s work to plan, coordinate, and support professional and recreational sports in Washington, DC. Key findings of the report include:

  • Major sports are a significant export of the District’s economy, generating $5 billion in 2022 and attracting 7.4 million visitors in 2023 (with 88% being non-District residents).
  • The District’s major sports teams and facilities have catalyzed neighborhood prosperity, with commercial real estate development near the District’s sports facilities outpacing District-wide developments in the years following each facility’s opening.
  • “Anchor” sports facilities generate greater localized benefits than “islands,” as anchors are well-integrated into urban environments, maximizing pedestrian and economic activity, while islands prioritize parking over creating a vibrant and productive economic ecosystem.
  • Hosting an NFL franchise is a once in a generation placemaking opportunity that would annually produce an estimated $1.26 billion in economic revenue, 2,095 jobs, $289.8 million in labor income, and $26 million in tax revenue.

A recent poll found that 76% of DC residents want the next Washington Commanders football stadium to return to DC.

Last year, Mayor Bowser created the DMPED Sports Team to work closely with the District’s professional teams and coordinate across District agencies, including the Chief Financial Officer and Events DC, to maintain, attract, and grow world-class sports teams and sporting events in Washington, DC.

The full study can be found on DMPED’s website. Jones Lang LaSalle Americas Inc (JLL) and the Robert Bobb Group produced the study.

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