Yesterday's post referred to Kevin Modesti's tongue-in-cheek article on sports and economic impact in Los Angeles. On further investigation, it appears that Modesti's story may have been prompted by the release of a "real" economic impact study for sports in LA. The study is discussed here, with pdf slides from the study available here. It was produced out of the Anderson School of Business at UCLA, but no professor's name is attached to it. Ok, then.
Here are some choice quotes, with contrasting views:
--"This is one of the strongest sports markets in the country, and the study shows what kind of an impact it has on the local economy," said David Simon, president of the L.A. Sports Council.
--That $2 billion industry employs about 3,385 people in full-time jobs, according to the study. That's less than the 4,500 employed by the county's mining industry, according to Jack Kyser, the chief economist of the Los Angeles Economic Development Commission.
--"I always chuckle when people say that sports have no economic benefit," said [John] Semcken [vice president of Majestic Realty]. "Before Staples, that neighborhood was full of run-down day hotels, and prostitution was the only local industry ... today it is one of the entertainment capitals of the country."
The article notes that Majestic Realty is owned by Ed Roski, developer of the Staples Center, who is backing the current $800m "plan it and the NFL will come" football stadium in LA. The LA Sports Council paid for the study.
Draw your own conclusions, but for me, this just makes Modesti's spoof that much funnier.