DETROIT, Mich.
(November 18, 2013) – The 2013 Chevrolet Detroit Belle Isle Grand Prix generated
$46.3 million in total spending for the Metropolitan Detroit region, according
to information released today.
The total represents
an increase of $1 million in spending from the 2012 Chevrolet Detroit Belle Isle
Grand Prix, according to a report conducted by sports consulting firm
Sportsimpacts, which also provided an analysis report of the 2012 Grand Prix.
Of the 2013 total
spending number affecting Wayne, Oakland and Macomb counties, $17 million
represents new spending to the region as a result of non-local sources that will
be retained long term as new income for Detroit-area households, businesses and
government. This represents a total economic impact increase of $1.3 million
over the 2012 Grand Prix according to Sportsimpacts, which has conducted over 75
studies since 2000, including numerous sporting events in Metro Detroit such as
Super Bowl XL, the Ryder Cup and the Major League Baseball All-Star
Game.
“The Chevrolet
Detroit Belle Isle Grand Prix continues to be a very positive force for Detroit
and Southeast Michigan,” said Bud Denker, Chairman of the Chevrolet Detroit
Belle Isle Grand Prix. “We know that the event shines the light on Detroit and
Belle Isle on an international level with race broadcasts seen around the world
and it’s also great to see how much of an impact the Grand Prix has on the local
economy. We’re very excited to report economic growth from the 2012 event and to
generate $46.3 million in spending for the region this year.”
The direct spending
impact, which refers to all spending by local and non-local spectators,
participants, and other expenditures towards event operations and infrastructure
for the Grand Prix in 2013 was estimated at $28.8 million. Accounting for
regional spending multipliers produced, Sportsimpacts projected the total
spending impact of this year’s Grand Prix to be $17
million.
