Super Bowl 46 cost about $1 million to put on the Indianapolis Capital Improvement Board officials announced Monday. The figure is about $200,000 more than predicted.
However, CIB President Ann Lathrop says the money is minimal compared to the long term economic impact of the Super Bowl. ICVA President Leonard Hoops says the impact will be at least $300 million over the next decade — $100 million in direct event spending and the remaining $200 million in pending business deals – much of it from conventions which may come to town.
“They‘ll tour your hotels, they‘ll look at your convention center, they‘ll look at the airport and other cities being considered,” Hoops says. “Once this happens then that meeting might be for 2015 to 2018. [We'll] figure out just what we converted from this first quarter.”
Hoops says they are still tallying receipts and monitoring business deals for the city that are linked to the Super Bowl. Lathrop adds the Super Bowl is responsible for about $2.9 million in additional tax revenue for the city.
The CIB must also reimburse the city‘s Department of Public Safety $3.58 million in security costs associated with the event. Lathrop says the expenses are relative given the CIB‘s $100 million budget. Hoops adds there were about a dozen additional groups that attended the Super Bowl — organizations he hopes to lure to Indianapolis for convention business.