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As the 49ers prepare to face the Chiefs this weekend in Las Vegas, economic development leaders can use the extra spotlight from the Super Bowl to further enhance the community.
The Las Vegas Global Economic Alliance’s (LVGEA) new initiative, LOCATE Las Vegas, kicks off Sunday, giving Gov. Joe Lombardo and various business and civic leaders across the state a chance to connect with industry leaders and corporate executives.
LVGEA President and CEO Tina Quigley said in a news release that the Super Bowl is an opportunity to show why “there’s no place like Las Vegas” to expand or establish operations.
The Super Bowl will be held in Las Vegas on Feb. 11, 2024. (Photo: Adobe Stock/AA+W)
“The favorable business climate combined with all the elements that employees look for when it comes to quality of life – including our reputation as one of the fastest-growing sports capitals of the world – makes our region extremely compelling as a location for business,” Quigley said.
LOCATE Las Vegas will last three days, but Wells Fargo, in “The Economics of Super Bowl LVIII,” projects a strong impact from the Super Bowl being held in Vegas for the first time.
“All told, the Super Bowl will likely be an economic boon for the local economy, as tourism spending increases as a result of visitors from all over the world flocking into the metro to watch the game, either at the stadium or one of many bars, restaurants or casinos,” the report stated.
The National Retail Federation projects that total consumer spending associated with the Super Bowl will reach more than $17 billion. Spending in Las Vegas alone is projected at nearly $140 million, according to the U.S. Chamber of Commerce. Estimates show that the event at Allegiant Stadium will bring 150,000 to the area—not counting the 300,000 people who travel to Vegas for the Super Bowl “in any given year,” the Chamber reported.
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NFL Commissioner Roger Goodell touted Vegas as “Sports Town USA” during a Las Vegas Super Bowl LVIII Host Committee brunch. And Jared Smith, Economic Development and Tourism Director for Henderson, Nevada, reiterated as such in an interview with Business Facilities Editorial Director Anne Cosgrove.
“Henderson is proud to embrace this mantra as the headquarters and training facility home for both the Las Vegas Raiders and Las Vegas Aces,” he said in the January/February 2024 issue of Business Facilities. “In addition to being home to these professional sport franchises, the Fiesta project will allow Henderson to expand that reach by hosting premier collegiate and high school tournaments and sporting events.”
How do you think the Super Bowl will aid economic development in Las Vegas? Share your thoughts in the comments!
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