With great fanfare earlier this month, the New Meadowlands Stadium submitted a bid to the NFL to host Super Bowl XLVIII in 2014.
“Hosting the Super Bowl in the New York/New Jersey area will not only place the game of football on the largest stage it’s ever seen, but the positive economic impact for the region will be substantial,” Woody Johnson, Chairman and CEO of the New York Jets, said after the bid was submitted on Wednesday. “Studies have shown that the economic benefit would exceed $550 million, providing a major boost to this area on many levels.”
Johnson’s comments about the economic benefits of the big game were echoed by other leading figures from the world of sports, as well as state lawmakers promoting New Jersey’s efforts to host the contest. In addition, most news accounts of the bid submission reported that the host committee is projecting that a local Super Bowl will generate $550million for the region. Likewise, a Senate resolution supporting the proposal promises that “the economic benefits of a Super Bowl in this state would be substantial, generating hundreds of millions of dollars in economic activity.”
But you may not want to count that money too soon. Continue reading