April 05. 2012 8:30AM

New study shows economic impact of Bradley Center

  
A new study, conducted by the Metropolitan Milwaukee Association of Commerce, indicates that the downtown Milwaukee Bradley Center creates a gross economic impact of $204 million and a net economic impact of $86 million on the Southeastern Wisconsin region.

In addition, the study revealed that one out of every three Bradley Center event attendees comes from outside the metro-Milwaukee area and that the overall impact supports 2,350 jobs with an annual payroll of more than $73 million while it’s net impact supports 1,068 jobs with an annual payroll of more than $29 million.
“The Bradley Center is a tremendous economic asset to the metro Milwaukee community and beyond, and it supports thousands of jobs and pumps tens of millions of new dollars into the local economy every year,” said Tim Sheehy, president of the MMAC.  “While there are still long-term questions about a new arena for downtown Milwaukee, the Bradley Center’s role in the business community continues to be quite significant.  The Bradley Center is a great place, and we need to do more to keep it working and working well as a major part of our Downtown economy.”
The overall impact of having more than 1.2 million people attend nearly 170 events a year is significant, Sheehy said.
The study was prepared by MMAC economic research director Bret Mayborne, and his study included the gross impact of all economic activity supported by spending generated by Bradley Center activity.  The economic components that were part of the study included tickets, concessions; merchandise sold at athletic competitions, concerts and other events and related spending for parking, restaurants, bars and hotels. 
The net impact measures only the effect of new dollars spent with the assumption that if the Bradley Center, its teams and events did not exist, some of the related spending would shift to other entertainment options such as movies, theaters and other activities that would benefit the local economy, Mayborne said.
 “The bottom line is whether you look at the gross or net impacts, the Bradley Center has a large and important economic footprint in our region,” Mayborne said.  “No matter how you slice it, the Bradley Center clearly brings in millions of dollars in revenue, creates more than 1,000 good jobs and sparks significant, additional positive economic activity throughout the Southeast Wisconsin region.”  
According to Sheehy, the economic intangibles of the Bradley Center are even more significant to the area.
 “Being a big league city and having multiple entertainment choices plays a key role in the attractiveness of a metro area,” Sheehy said. “It’s important to our community’s image that the Bradley Center offers the opportunity to attend professional and collegiate sporting events, A-list concerts and the nation’s best touring family shows.  There is a significant value to our community’s image by having teams like the Admirals, Golden Eagles and Bucks playing in the Bradley Center and all of these factors contribute to the Bradley Center’s significant economic value and lasting impact.”

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