• Sun. Apr 14th, 2024

Expert States Sacramento’s Golden 1 Center Sets a High Standard for Economic Development

BySamantha Johnson

Mar 9, 2024
Expert States Sacramento’s Golden 1 Center Sets a High Standard for Economic Development

A decade ago, Sacramento broke ground on downtown’s Golden 1 Center, and recent research shows its growing impact on the local economy. The Golden 1 Center hosted 127 events in the last year, drawing over 1.5 million attendees in addition to Sacramento Kings games. Barry Broome of the Greater Sacramento Economic Council believes the arena has exceeded expectations and is the most successful sports facility in the United States.

A new report highlights the economic benefits of the arena, bringing in approximately $13 million in direct taxes annually and generating hundreds of millions of dollars in broader economic impact. The venue has also created over 2,000 jobs and contributes significantly to Sacramento’s economy. The study shows that the average person spends $237 per event, with mid-week shows like concerts bringing business to nearby hotels and restaurants.

This year marks the tenth anniversary of the arena’s groundbreaking, with local leaders vowing to protect taxpayers. While lease and parking revenue have been lower than forecasted, millions of dollars that could go toward public services are currently being used to pay off the arena’s debt. Despite these challenges, supporters point to the overall economic impact as proof of the arena’s success.

Average attendance at regular season NBA games last year was 17,440 people, and it is expected to increase this year. The Golden 1 Center continues to play a significant role in boosting Sacramento’s economy and attracting visitors to the city.

By Samantha Johnson

As a content writer at newszkz.com, I delve into the realms of storytelling, blending words to paint vivid narratives that captivate and inform our readers. With a keen eye for detail and a passion for research, I craft compelling articles that resonate with our audience. My love for words drives me to explore diverse topics, ensuring that each piece I create not only educates but also entertains. Join me on this journey as we navigate the ever-evolving landscapes of news and knowledge together.

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