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Cardinals are huge boost to region’s bottom line

The St. Louis Regional Chamber estimates that the economic impact of the 2014 Cardinal season on the St. Louis region will be approximately $338 million, according to a just-completed analysis conducted by the Chamber’s Director of Economic Research, Ruth Sergenian.

Based on a projected Cardinals regular season attendance of 3.4 million fans, the team will generate an estimated $157.3 million in direct impact and another $180.7 million in indirect spending to reach a total of $338.0 million in total regional economic activity.

The analysis uses an economic impact model that measures how spending tied to an event has multiple impacts and spreads throughout a region, thereby benefiting households and firms within the region. The figure is based on estimates of visitor spending and Busch Stadium jobs and operations expenditures. Historically, out of town visitors constitute about 40 percent of Cardinals attendances, and visitor spending on dining, lodging, and shopping provides a significant boost to the regional economy.

The new seasons starts off with completion of Ballpark Village, a new sports anchored dining and entertainment district, located next to Busch Stadium, which held its grand opening on March 27. The St. Louis region realized a total one-time economic benefit of $195 million from the construction of Ballpark Village, which generated nearly 1500 direct and indirect construction jobs during the 18-month build-out. The new development is expected to attract 6.0 million visitors and the development’s tenants are expected to fill more than 1,000 new permanent jobs.

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