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September 27, 2017
AZ Big Media: 2017 WM Phoenix Open Pumps $389M into Arizona’s Economy
The 2017 Waste Management Phoenix Open Presented by The Ak-Chin Indian Community pumped $389 million into Arizona’s economy according to an economic impact study released by the Arizona State University W.P. Carey School of Business. The study, which also included ASU’s L. William Seidman Research Institute – the applied research and consultancy arm of W.P. Carey School of Business – was commissioned by tournament host The Thunderbirds. The economic impact of the 2017 tournament increased 65.4 percent ($222 million) from a similar study performed in 2012.
The study defined and estimated economic impact as the increase in spending and therefore economic vitality in a community as a result of the existence of an event or organization. For the WM Phoenix Open and surrounding events, this included the expenditures of visitors who identified the WM Phoenix Open as the key factor in visiting Arizona, media from outside Arizona who cover the event, the “organizational spending” by The Thunderbirds, media and event production companies, diverse organizations and businesses involved in operations, event production and activation of sponsorships, plus the indirect and induced multiplier effects.
“The Waste Management Phoenix Open is a remarkable community event. Under the volunteer leadership of The Thunderbirds, the attendance at the event continues to grow with more and more visitors from outside our Valley attending each year,” said Dr. Michael Mokwa, Associate Director of the Sports Law and Business Program at ASU’s W.P. Carey School of Business. “The event has become renowned for blending a fun atmosphere and intense competition. Plus, it is a model for creating a sustainable environment given the partnership with Waste Management. At $389.3 million, the economic impact for the Waste Management Phoenix Open rivals other mega-events that are drawn to the Valley periodically. But, the Waste Management Phoenix Open generates this economic infusion into our economy year-in and year-out.”
Full article: AZBigMedia.com.