Thousands of people who arrive in Indianapolis from around the country and millions more watching on television enjoy the excitement of athletic events sponsored by the National College Athletic Association (NCAA), particularly the men’s basketball finals.
However, NCAA events are definitely about more than sports and team spirit. They have a significant impact on the economy of Indianapolis and Central Indiana.
Visit Indy, an organization that promotes tourism to the city, estimates that more than 40,000 visitors came to Indianapolis to view various NCAA related games during March Madness.
“We’re anticipating that between $15 million and $17 million in economic impact came from these visitors,” said Chris Gahl, vice president of marketing and communications for Visit Indy. “Many of our hotels were sold out and our restaurants enjoyed additional table seatings. This was the set up to a monumental weekend.”
Indianapolis attracted a massive turnout in 2009 when it was host city of the Division I Men’s Basketball Regional, and 2010, when it hosted the men’s Four Four, which included participation from hometown favorite Butler University.
With the NCAA being headquartered in Indianapolis, the association has agreed, until 2039, to have at least one of its major events held in Indianapolis, such as a Men’s or Women’s Final Four, the annual NCAA Convention, the Division I Men’s Basketball Regional, or a Men’s or Women’s Sweet Sixteen set of games.
Gahl added that there are also other benefits to having the NCAA and many of its signature events located here, including the fact that it has encouraged amateur sports organizations such as USA Football to move to Indianapolis.
In a general sense, the city is also benefiting from steps it has taken in recent years to become more accommodating as a convention site, where visitors are attracted to its expanded hotels, meeting facilities, arenas and entertainment.
“Doubling the size of convention space and adding new hotels have taken us a long way,” said Gahl. “We are now in a position to compete with other cities being viewed daily as possible sites for major events.”
John Thompson, chairman of the Indy Chamber, said NCAA events have had a major impact on local businesses when visitors purchase their products and services.
“They put a real spotlight on the city and gave us a chance to showcase it again after the super bowl,” said Thompson, who is the owner of three enterprises.
He added that Indianapolis also benefits from having Lucas Oil Stadium, which was built in 2009 with NCAA basketball tournaments in mind.
