Miami’s first Super Bowl in 10 years expected to create positive change far beyond Hard Rock Stadium and across South Florida
The Miami Super Bowl Host Committee and Sport Management Research Institute (SMRI) announced today that the parties have entered into an exclusive agreement for SMRI to produce an economic impact study of Super Bowl LIV and its various ancillary events.
A full decade after South Florida last hosted the Super Bowl, which resulted in $234 million generated for the region, the community is eager to see what the economic impact for Super Bowl LIV will be, taking into account the extensive renovations and improvements to Hard Rock Stadium.
“Miami and all of South Florida is very different from what it was 10 years ago when we hosted our last Super Bowl. Now we have emerging neighborhoods, new forms of transportation, a newly renovated stadium, as well as new cultural, tourist and shopping destinations. All of this, coupled with the first time producing the free fan-festival Super Bowl LIVE at Bayfront Park, sets a very different yet positive stage for an economic impact study,” said Rodney Barreto, Chairman of the Miami Super Bowl Host Committee. “It was imperative that we hired a local business with an extensive experience conducting economic impact studies, and also one which has a deeply rooted understanding of our South Florida communities.”
The Miami Super Bowl Host Committee has placed a particular emphasis on hiring vendors with local ties and diverse backgrounds, and as a female-owned business operating in South Florida, SMRI fits that bill. Dr. Kathleen Davis and her company, SMRI, have an extensive history delivering data analytics to measure the financial impacts of Super Bowls, along with countless other major sporting events nationwide. SMRI has worked on 18 of the last 24 Super Bowls, including the last four held in Miami. The company first lent its support to the NFL and the Miami Super Bowl Host Committee in 1995, and SMRI has offered data analytics project work to all 32 NFL franchises.
“I am particularly grateful to the late Wayne Huizenga for his support and guidance in hiring SMRI to handle the economic impact report for Super Bowl XXIX more than two decades ago,” Davis said. “SMRI is honored to be afforded the opportunity to continue the data analytics work we have done in this regard as we prepare to work our fifth Super Bowl in South Florida. I know that the Miami Super Bowl Host Committee will stage a series of exceptional events that will extend well beyond Hard Rock Stadium. Our company is thrilled to be working with them to measure just how impactful the event will be to the local economy – not just in Miami itself, but in the surrounding communities that benefit from South Florida hosting the game.”
SMRI will conduct on-site surveys of Super Bowl visitors at all major events associated with the game, including Super Bowl Live at Bayfront Park, Super Bowl Experience at the Miami Beach Convention Center, Taste of the NFL and a number of others, as well as the game itself. Researchers will document a number of key statistics that measure spending associated with Super Bowl LIV.
SMRI offers significantly better survey response rates (2-3% industry-wide) through the development and implementation of its patented Survey-EDGE platform, offering enhanced data performance, reliability and validity of reporting mechanisms. The company’s economic impact report for Super Bowl LIV will measure the spending of South Florida visitors, media, contractors, small businesses and more to determine the overall contribution to the local economy. In 2010, during the height of a recession, Super Bowl XIV generated $234 million in economic impact for the region. Average daily spending for visitors was more than twice the average for other weeks of the year.
Research will include an economic impact assessment of visitor spending associated with the Super Bowl in the Miami-Dade, Broward and Palm Beach Counties using the IMPLAN regional economic modeling and social accounting system. Dr. Alan Hodges of the University of Florida has partnered with SMRI on many past projects, and trusts their research methods.
“IMPLAN is the industry standard for economic and fiscal impact assessment in the United States, with more than 500 users in academia, business and local, state and federal government,” Hodges said.