The City of Hamilton spent about $370,000 for the right to host the 2021 Grey Cup and the NHL’s Heritage Classic this past winter.
In return, a pair of studies show the two events pumped about $20 million into Hamilton’s economy.
Mayor Fred Eisenberger says that return is the reason for making such investments on behalf of restaurants, hotels and other partners.
“Yes, there is an upfront cost,” says Eisenberger, “but there’s certainly significant spillover benefit that goes into all of the businesses that participate.”
Director of tourism and culture Carrie Brooks-Joiner presented the economic impact studies to Hamilton’s general issues committee on Wednesday morning.
She says the impact of the Grey Cup, in which the Winnipeg Blue Bombers beat the Hamilton Tiger-Cats, is measured at about $14.5 million, in return for a $200,000 municipal contribution.
“The outcome surpassed our expectations, other than the final score,” says Brooks-Joiner.
She adds that about 60 per cent of the sell-out crowd of almost 27,000 people, were out-of-town visitors.
“The majority of them stayed overnight, which increased their spend in the city.”
The city invested $177,000 in the NHL’s Heritage Classic, for an estimated return of between $5 and $6 million.
Brooks-Joiner says that event generated 23,000 room nights at 11 Hamilton hotels.
Both games were played at Tim Hortons Field.
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