LA Hosting Committee Communications
LOS ANGELES (November 15, 2022) — A new report from Micronomics Economic Research and Consulting outlines significant gains for Los Angeles if the region hosts the College Football Playoff (CFP) National Championship on January 9, 2023 at SoFi Stadium in the city of Inglewood. According to forecasts, the region can expect a total economic upside potential of up to US$225 million, more than a thousand new job opportunities in event production and hospitality, and major contracts for local businesses.
Following the success of Super Bowl LVI, the influx of visitor spending surrounding the many events leading up to college football’s biggest game will provide an ongoing boost to the area’s economy. Small businesses and industries such as restaurants and hotels will experience the most significant upswing.
The entire LA area can expect the CFP National Championship to generate interim economic benefits $155 million and $225 million, including tax revenues ranging from $7 million to $10 million, the analysis said. This potential economic impact would result in a gain of approx1,300 to 1,900 jobs in the LA area, where full-service and limited-service restaurants, hotels, and motels are expected to see the largest employment gains.
View the economic impact report
“Similar to the massive impact of Super Bowl LVI throughout the Los Angeles area, we are pleased to see that the CFP National Championship will have a far-reaching positive impact on the region,” he said James Rishwain, Chair of the Los Angeles Hosting Committee. “This Economic Impact Report reinforces our mission as an organization to direct the resources and opportunity to host major events back into our communities for economic and social benefits for years to come.”
The CFP National Championship will complement the City of Inglewood’s impressive schedule of high-profile sporting and entertainment events scheduled to be held at SoFi Stadium and Hollywood Park this decade.
“The College Football Playoff National Championship represents another step in reclaiming Inglewood’s title as City of Champions,” he said The Mayor of the City of Inglewood, James Butts. “We look forward to welcoming fans of the region and the country to this spectacular event.”
With around 26 million television viewers and millions of social media interactions each year, the CFP National Championship regularly generates a huge national presence in the host cities – which in turn will positively impact tourism and economic activity for years to come.
“Los Angeles is the ultimate stage: where fans fill our stadiums, players become icons and teams from across the country become champions,” he said Los Angeles Mayor Eric Garcetti. “The College Football Playoff National Championship will enrich our sporting heritage and give sports fans from across America another reason to visit Los Angeles.”
LA County is the nation’s leader in hosting world-class sporting and entertainment events. The region will continue to host many major events in the near future, including WrestleMania 39 (2023), the 123rd US Open Championship (2023), the 2026 FIFA World Cup™ and the 2028 Olympic and Paralympic Games.
“Thank you to Stan Kroenke, SoFi Stadium and Hollywood Park, and our ChampionLA donors who are committed to bringing major events like the College Football Playoff National Championship to our area that leave a lasting legacy for our community,” he said Kathryn Schloessman, President and CEO, Los Angeles Sports & Entertainment Commission. “These events are having a significant economic and societal impact on our region.”
In September, the Los Angeles Host Committee, along with the CFP Foundation and the LA84 Foundation, launched theChampions train here Legacy program recognizing up to 46 educators who use the unique power of sport, play and exercise to support students’ mental health and social-emotional needs. Each selected educator will receive up to $20,000 to expand their work. Meanwhile, the LASEC Business Connect program supports 200 local minority, women, LGBTQIA+ and veterans-owned businesses through professional development, networking and contract opportunities. Various other scholarships, employment opportunities, and community programs stemming from the CFP National Championship are strengthening ties in cities and neighborhoods across the region.
“The Champions Educate Here program has transformed the culture of our cross-country team by providing gear that gives our kids pride and confidence,” he said Reginald Bellamy, Girls Cross Country Coach and Running Coach, Inglewood High School. “These are critical years for students and sport can have a positive impact on their lives. The Champions Educate Here program is the seed from which we grow.”
For more information on Los Angeles hosting the College Football Playoff National Championship, visit LosAngeles2023.com.
About the Los Angeles Hosting Committee
The Los Angeles Host Committee was formed to provide a premier CFP National Championship experience and create lasting social, cultural and economic benefits for the entire Los Angeles area. We act as a liaison between the College Football Playoffs and Los Angeles to capitalize on opportunities surrounding the CFP National Championship. The Los Angeles Sports & Entertainment Commission (LASEC) and Chairman James Rishwain lead the hosting committee, which includes SoFi Stadium and Hollywood Park and the Los Angeles Rams.