May 20 2022
FOR IMMEDIATE RELEASE: MASSMUTUAL CENTER SEES POSITIVE ECONOMIC IMPACT IN SPRINGFIELD
MASSMUTUAL CENTER SEES POSITIVE ECONOMIC IMPACT IN SPRINGFIELD
Results show Gross Economic Impact and Incremental Impact
SPRINGFIELD, MA (May 20, 2022) – The MassMutual Center recently collaborated with Tourism Economics, an Oxford Economics company that measures local economic impact in local markets, to research the economic impact the venue had in Springfield and surrounding markets from July 2018 through June 2019 (FY19). Findings show that the MassMutual Center’s Gross Economic Impact as well as Incremental Impact were significant.
Tourism Economics found that in FY19, the MassMutual Center had over 300K total attendees in the Arena and Convention Center events, resulting in a Total Gross Economic Impact of $47.1M, which generated 555 Total Jobs in the market and contributed $4.4M in Total State and Local Tax Revenues.
Of the total event attendees, 147K were out-of-town attendees, resulting in a Total Incremental Impact of $34.9M, which generated 443 Total Jobs in the market and contributed $3.2M in Total State and Local Tax Revenues.
Gross Economic and Incremental Impacts were measured by money spent by the venue in the local economy to sustain operations, including spending on payroll, marketing costs, legal services, and professional services, as well as money spent by event attendees while attending events at the MassMutual Center and at off-site establishments, including local restaurants, hotels, retailers, and recreation/entertainment venues. Gross Economic Impacts shows impact made by all event attendees, while Incremental Impacts focuses on the out-of-town event attendees.
These numbers are a tribute to the alliance at the MassMutual Center. Managed by MGM Springfield, in collaboration with the Massachusetts Convention Center Authority who owns the property and in partnership with the Greater Springfield Convention & Visitors Bureau.
“We love being a part of the Springfield community and are thrilled at seeing the results of these reports. We look forward to continuing our successful impact on local businesses and growing our partnerships throughout Springfield and Western Massachusetts,” stated Sean Dolan, General Manager of the MassMutual Center.
“The MassMutual Center continues to be a positive catalyst for economic activity in Western Massachusetts and the success of the venue and the results that have been achieved are a direct result of the outstanding work Sean Dolan and his team have done to increase the quality of events at the facility to deliver real results for the community,” said David Gibbons, Executive Director of the Massachusetts Convention Center Authority.
For more information on the MassMutual Center and upcoming events, please visit www.MassMutualCenter.com.