In 2013 alone, the RaginСAPP Cajuns football program had a local economic impact of more than $27.3 million, which included a total of five home games or an average of $5.46 million per game.
Of that, $7.6 million is attributed to wages paid to area residents, as the program supported a total of 241 jobs and also contributed almost $17.2 million to the Acadiana Gross Domestic Product (GDP).
The results of an independent analysis completed in May by the Lafayette Economic Development Authority in conjunction with Vermilion Marketing & Opinion Research LLC reveal that the Louisiana RaginСAPP Cajuns football program is an economic engine, generating substantial business sales, employment and personal income for Acadiana.
The analysis СAPP which aims to quantify the impact on the local economy using a broad range of data, including spectator surveys (attending and not attending), game attendance data, financial reports, and a survey of Lafayette businesses СAPP was paid for by MidSouth Bank and completed for the СAPP of Louisiana Athletics Department.
This economic impact will grow with the stadium expansion now under way to increase capacity from 31,000 to approximately 38,000 for the 2014 season and rise exponentially when Cajun FieldСAPPs capacity swells to more than 60,000, as outlined in the Athletics Department Facilities Master Plan.
СAPPWe are proud to be a part of the incredible culture here in Acadiana and happy to provide a positive economic effect on the community,СAPP says Scott Farmer, the universityСAPPs Director of Athletics. СAPPThe successes our teams are currently enjoying combined with future facility expansion mean that impact and exposure to our great community will only continue to grow.СAPP
A portion of the total economic impact is attributable to the local expenditures by the СAPP Athletics Department and affiliated outside organizations of the RaginСAPP Cajuns football program. These expenditures generated an estimated economic impact of more than $10.3 million.
Another contributing factor is the economic impact of spectator spending in Acadiana, which totaled $11.1 million for the 2013 season. The economic impact of that spending equated to $17 million. For every dollar spent directly by spectators, another 54 cents is generated and put into the local economy.
СAPPUL Lafayette, with its established academic reputation and its athletic program success, is one of LEDAСAPPs key allies in our economic development efforts in Lafayette and Acadiana,СAPP says Gregg Gothreaux, President and CEO of the Lafayette Economic Development Authority. СAPPThe СAPP plays an integral role in attracting businesses and people to the region and its athletic program is an important part of the regionСAPPs entertainment industry. Having access to the СAPPСAPPs sporting events is a quality of life benefit the community needs to leverage to attract and keep young professionals in the region. UL LafayetteСAPPs football program, not only contributes to the regionСAPPs quality of life, but to the whole economy.СAPP
When the stadium expansion detailed in the Athletics Department Facilities Master Plan is completed, capacity will nearly double. The analysis shows that if the new stadium has an average attendance rate of 85 percent, the expected economic impact on Acadiana of football operations and spectator spending combined is estimated to reach $47.5 million and support 384 jobs for Acadiana residents. The new impact represents an increase of $20.2 million and 143 additional jobs.
СAPPMidSouth Bank has long had a terrific relationship with both LEDA and UL, and we were glad to fund this critical independent study, which gives everyone real insight into the kind of impact a single sport can have on the local economy,СAPP says Rusty Cloutier, President and CEO of MidSouth Bank. СAPPThis study is very important to the future of the universityСAPPs Athletics Department.СAPP