Business Commons^™

Tracking The Dollars: How Economic Impact Studies Can Actually Benefit Managerial Decision Making, Daniel A. Rascher, Michael M. Goldman

Sport Management

Almost every month brings another attention-grabbing headline about a city or country considering a bid for a major sporting or entertainment event. Politicians, business executives, and excited fans weigh in about the possible costs and benefits, with limited numbers provided about the possible economic impact, and even less said about how these numbers were calculated. Most recently, LeBron James’ return to Cleveland was estimated by Bloomberg to boost the city’s economy by $215 million annually, while Cuyahoga County’s projections were more than double this number. A concert of Jay-Z and Beyonce in Baltimore in 2013 was estimated by the local …