Final Four generates money for STL
September 22, 2005
The Final Four generated unprecedented attention for the University of Illinois athletic department. It also generated nearly $72 million in revenue for the St. Louis metropolitan area, the NCAA announced this week.
A survey commissioned by the NCAA and the St. Louis Organizing Committee looked at the economic benefit of hosting the 2005 NCAA Men’s Final Four.
The survey said more than 54,000 visitors headed to the 12-county metropolitan area for the Final Four on April 2 and 4.
That turnout meant big money for the area. Visitors brought in $6.4 million in direct spending on hotels and lodging, $6.3 million in direct spending on food and beverages and $5 million at retail outlets.
It also brought in $1.3 million in rental car revenue and $1 million in parking expenditures. Taxes alone accounted for a $3.5 million income for the city.
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Patrick Rishe, an associate professor of economics at Webster University in St. Louis, conducted the study.
A No. 1 seed in the 2005 NCAA tourney, Illinois topped No. 4-seeded Louisville 72-57 in the Final Four to earn the team’s first bid to the NCAA Championship. The Illini fell to North Carolina on April 4, losing a tough battle 75-70.
The Illini start the 2005-2006 season with the Orange & Blue scrimmage on Oct. 28.