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Hamilton Tiger-Cats Release Economic Impact Assessment Study
Bob Young’s Group of Companies to Generate Over $1.4 Billion in Tangible Local Economic Benefits Over First 10 Years In New Stadium
HAMILTON – The Hamilton Tiger-Cats Football Club released today a comprehensive economic impact analysis prepared by the Altus Group Economic Consulting.
Click here to read the analysis.
“Professional sports franchises generate significant direct and indirect activity in the Hamilton community,” stated Tiger-Cats President Scott Mitchell. “We knew historically that the economic impact of the Tiger-Cats and related Bob Young Group of Companies was significant but until now, we did not know how significant.”
Altus Group is a leading multidisciplinary provider of independent, professional real estate services for both the public and private sector with a network of over 60 offices in 14 countries worldwide. Altus Group has considerable experience evaluating the economic impact of major construction projects, civic initiatives and industry sectors and concluded that taken together, the Ticats, other Bob Young companies and related activities will generate the following tangible benefits in terms of local economic development over the first decade of full operations in the new stadium:
- – Over $1.4 Billion in economic activity from the Ticats and other Bob Young companies – as much as $1.7 when the contribution of the stadium construction is factored in
- – Almost $1 Billion in net contribution to Canada’s GDP, much of which will be in the local community
- – Almost 14,000 person years of employment, much of which will be in the local community
- – Over $580 million in income and earnings by households mostly in the local community related to labour income and other sources of income
- – Over $450 million in tax revenues generated across all levels of government
The Hamilton Tiger-Cats trace their origins to 1869. The team reorganized as the Tiger-Cats in 1950.
“The documented economic benefits are important to this community,” Mitchell stated. “So too are the wide range of intangible benefits that promote Hamilton and Tourism in this City, as well as over 2,000 community appearances by our players, cheerleaders and management annually.”
Mitchell continued, “We have a rich tradition of being vitally linked into every aspect of the Hamilton community. It would be my expectation that this involvement by the Tiger-Cats will continue to grow, particularly as we enter into the next phase of activity in a new Hamilton Stadium.”
