Detroitnomics 101: How the NFL Playoffs and the NFL Draft are helping businesses generate revenue
Detroit. What is the first thing that comes to mind? Motown? Motor City? The Motown Hits?
For a while, Detroit didn’t neccesarily have a good reputation and wasn’t the most sough-after town at top of mind. But with the city on an upward trajectory, it is slowly becoming a place that is getting noticed.
With most companies like like Microsoft, General Motors, Rocket Mortgage, and all 4 sports team in close proximity — local businesses are also seeing the benefits in the form of profits.
That’s not all — with new restaurants and the upcoming Hudson shopping mall and residences, it is becoming the hip part of town. The Hudson Shopping mall is expected to include — 1.5 million square feet of office, retail, beverage and hotel space, along with the state of the art residences and a 5 star hotel. [2]
Now, circling back to the local businesses — they saw large profits particularly when the Detroit Lions made the playoffs for the first time in 30 years, which was a very big deal for the city. The city brought in over $50 million dollars, according to ABC News 13. [3]
That is not the only attraction that is helping drive revenue for the city.
Detroit has been chosen to host the NFL Draft this year in April. The city is doing a number of things to increase the fan experience — one of which is installing it’s own version of the Hollywood sign on I-94. [4]
Here are some more things to look forward to as the 2024 NFL Draft approaches:
New look at Detroit stage design, layout for 2024 NFL Draft (youtube.com) [5]
Sources:
[1] Google Images, Detroit
[2] Hudson’s Site (hudsonssitedetroit.com)
[3] $50 million in estimated economic impacts for Lions playoff game | wzzm13.com
[4] New “Hollywood” Detroit sign coming to I-94 | Urbanize Detroit
[5] New look at Detroit stage design, layout for 2024 NFL Draft — YouTube
Tej Yale is the Founder/CEO of ThinkImpact Inc, a Marketing Company based in Rochester Hills, Michigan. They offer Social Media Management, Content Management, Graphic Design, Event Promotion, Website Development, Marketing Consulting, Project Management, Business Support.
You can learn more at www.thinkimpact1st.com
