ST. LOUIS – The Cardinals are kicking off another year of baseball in St. Louis and the team is expected to generate over $300 million in regional economic impact.
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The St. Louis Regional Chamber released a report that the Cardinals will generate an estimated $303.3 million in regional economic impact in 2019.
Explore St. Louis said, according to the latest Forbes list, the Cardinals are the seventh most valuable baseball team with a $1.9 billion value. In addition to Ballpark Village’s $260 million second phase, St. Louis’ Redbird support the regional economy through jobs, dining, lodging, shopping and by supporting other St. Louis attractions.
According to Alliance STL Director of Economic Research Ruth Sergenian, the Cardinals are projected to attract 3 million fans to Busch Stadium who will spend an estimated $158.5 million over the baseball season.
The spending is expected to spur an indirect economic impact of $144.8 million. Historically, out-of-town visitors constitute over 40 % of game attendees. Visitor spending on dining, lodging and shopping provides a significant boost to the regional economy.
“Baseball means big business in St. Louis. Cardinals fans from around the world visit St. Louis to watch their favorite baseball team but to also enjoy our Zoo, eat at downtown restaurants, explore the new Arch grounds and shop at neighborhood stores,” said Chamber President and CEO Tom Chulick. “The Cardinals provide immeasurable economic and social value to our region.”
Explore St. Louis said this analysis uses the economic impact model IMPLAN, which measures how spending tied to an event has multiple impacts and spreads throughout a region, thereby benefiting local households and firms. The direct, indirect and total economic impact figures are based on estimates of visitor spending and operations expenditures at Busch Stadium.