University of Phoenix Stadium scores big time for Valley economy

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The University of Phoenix Stadium was home to the 2017 NCAA Men's Final Four, which generated $324.5 million for the Phoenix area. (Source: 3TV/CBS 5) The University of Phoenix Stadium was home to the 2017 NCAA Men's Final Four, which generated $324.5 million for the Phoenix area. (Source: 3TV/CBS 5)
While the games were played in Glendale, downtown Phoenix hosted the Fan Fest and March Madness Music Festival. (Source: 3TV/CBS 5) While the games were played in Glendale, downtown Phoenix hosted the Fan Fest and March Madness Music Festival. (Source: 3TV/CBS 5)
GLENDALE, AZ (3TV/CBS 5) -

The home stadium for the Arizona Cardinals has apparently been a touchdown for the Valley's economy.

The University of Phoenix Stadium was home to the 2017 NCAA Men's Final Four, which generated $324.5 million for the Phoenix area, according to Arizona State University's W.P. Carey School of Business' studies.

"This was the largest, single non-Super Bowl event impact in Arizona history and it's something to be incredibly proud of," Gov. Doug Ducey said.

Between January 2015 and April 2017, sporting events at the stadium have created $1.3 billion for the Valley's economy, the studies said. That money includes festivities around the Valley, including in downtown Phoenix which was home to Super Bowl Central.

[RAW VIDEO: Gov. Ducey remarks on economic impact of sporting events]

The numbers break down like this:

  • $720 million from Super Bowl XLIX and the Pro Bowl in 2015
  • $274 million from the 2016 College Football Playoff National Championship in 2016

"We envisioned it to be an economic engine and it truly has been," said Michael Bidwill, president of the Arizona Cardinals.

The team starts its 12th season at the stadium with a preseason game against the Oakland Raiders on Saturday.

It appears people in the Valley have a positive view of the University of Phoenix Stadium in the west Valley.

A separate Nielsen Sports survey showed that 90 percent of Valley residents said the three-year run has had a positive impact on the community and 78 percent said hosting the sporting events is important.

[IN PICTURES: Final Four in Phoenix]

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