Chase Center, in partnership with Accenture, released an economic impact report on Monday estimating that the venue has generated $4.2 billion for the San Francisco economy since opening on Sept. 6, 2019.
Chase Center generated $2.9 billion in direct spend, over $1 billion in spend recirculation, and $270 million in intangibles
The figure includes over $2.9 billion in direct spend and over $1 billion in spend recirculation. About $270 million accounts for fiscal (tax) contributions and intangibles.
Per the arena’s news release, the study was created in celebration of Chase Center’s fifth anniversary. The economic impact report measure activity from the more than 4.8 million fans who have attended the arenas over 400 diverse events across sports, music, comedy, theater, family entertainment, and more.
Direct and influenced economic activity in the San Francisco community across several key categories are measured in the report, including direct spend, indirect spend, induced effects, and public sector effects.
Furthermore, the report discovered that Chase Center averaged over $1 billion in economic impact in each of the last five years, excluding impacts of the COVID-19 pandemic.
Figures in the report represent a five-year cumulative total running from July 2019 through June 2024. Of course, the report uses a July through June fiscal year to align with NBA seasons.
Economic impact report focuses on five key categories
In addition to broader economic impact, the report focuses on five key categories: event type, the visitor journey, jobs and prosperity, voice of community, and community intangibles.
According to the news release, highlights include:
- While impact is primarily driven by NBA games, economic impact surrounding Chase Center concerts, Thrive City activations and private events at the venue grew over 131%, from $160 million to $370 million, across the two previous fiscal years.
- Event attendees spend an average of $713 (pre-tax) outside of Chase Center in categories. This includes ground transportation, food and beverage, retail, entertainment, and lodging. The five generate a total of $66 in tax benefits and an additional $312 in spending for the economy.
- A total of 3,334 full time equivalent jobs are generated annually due to fan impact. Of that amount, 1,911 are employed by Chase Center and 1,432 are estimated to be in the local community. Jobs outside of Chase Center gross $71 million in earnings.
- Local businesses across food and beverage, retail, entertainment, and lodging within two miles of Chase Center average a 15-40% increase in sales on event days.
- Chase Center also impacts the San Francisco community through charitable work and other intangibles. The venue provides meal donations, volunteer hours, sustainability efforts, and more.
Report is not intended to measure incremental tourism benefits
Additionally, taxes are estimates based on consumer spending and publicly available tax rates. The report is not intended to measure incremental tourism benefits. All spending by local attendees is included. Since substitution effects are not accounted for, an upper-bound estimate of consumer spending is provided.
The NBA regular seasons and playoff seasons have outsized influence. However, “concerts, thrive city, and private events grew impact by over 131% in two years,” the report reads on page four.
Upcoming concerts include Nicki Minaj on Sept. 23 and Kacey Musgraves on Sept. 24. The Golden State Warriors will be back at Chase Center for a preseason game against the Sacramento Kings on Oct. 11.
Chase Center will host NBA All-Star Weekend in 2025
In fact, other upcoming events at Chase Center include NBA All-Star 2025. The 74th NBA All-Star Game is scheduled to take place at the arena on Sunday, Feb. 16, 2025.
Moreover, Chase Center will host the 2025 Division I Men’s Basketball Championship West Regionals in March 2025 and the Laver Cup in September 2025.
In May 2025, the Golden State Valkyries will tip off their inaugural season at Chase Center as well.
